Public-sector banks have cut holdings by a net 290 billion rupees ($4 billion) this quarter, even as sovereign bonds are poised for their first quarterly advance in more than a year.
Bond Traders Await Rs 32,000 Crore Debt Supply
Rupee bond traders will watch if a 320b rupee bond sale on Friday will dampen a rally in the nation’s debt this week that was led by short-covering and demand from banks. 10-year yields fell 5bps to 7.11% on Wednesday, they’re down 11bps so far this week USD/INR dropped 0.4% to 76.2100 on …