1042 GMT [Dow Jones] India government bonds are mixed as investors
reassess their positions after the RBI's surprise decision to keep
rates steady Monday. The most-traded 9.15% 2024 bond is at 105.28 vs
105.36 at Monday's close, while new 10-year 8.15% 2022 bond is higher
at 100.26 vs 99.88 at last close. "The 2024 bond, being a part of the
bond sale on Friday will continue to see selling pressure. The rally
in the new 10-year bond looks overdone given the supply pressure and
liquidity situation and may see a correction by the end of the week,"
says a dealer with a privately-run bank. He tips the 10-year bond
yield to stay in a 8.10%-8.17% range vs 8.11% last quoted. The RBI
will sell INR150 billion of bonds Friday. (nupur.acharya@dowjones.com)
Contact us in Singapore. 65 64154 140; MarketTalk@dowjones.com
(END) Dow Jones Newswires
June 19, 2012 06:42 ET (10:42 GMT)
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