Indian federal government bonds barely moved in early offers on Monday, as traders remained pat in the absence of any fresh domestic and international cues.
The yield on the standard 10-year bond was at 6.2926% as of 10:10 a.m.
IST compared with Fridays close of 6.2947%.
Trading volumes were silenced at the start of the week, but financiers will keep a watch on U.S.
Treasury peers, which inched lower in Asian hours.The 10-year U.S.
yield was at 4.3319%, a little lower following Thursdays increase, after information revealed the U.S.
produced more jobs than anticipated in June.
Brent unrefined futures lost 0.72% to $67.86 per barrel.Live Events Foreign investors have actually been purchasing Indian bonds lately, so we are carefully seeing that for additional instructions, a trader at a main dealer stated.
Public sector banks have been selling for a long time, so somebody has to soak up that, and if foreign investors continue buying, we can see some rally in bonds.
Still, bonds should sell a variety, with the 10-year yield bound between 6.28%-6.32%, the trader added.Last week, foreign financiers stepped up purchases of Indian federal government bonds under the Fully Accessible Route (FAR).
The investors net bought 87 billion rupees ($1.02 billion) of bonds under FAR during the period, CCIL data showed.Meanwhile, state-run banks net offered bonds worth about 143 billion rupees last week.RATESIndias overnight index swap (OIS) rates were little bit altered in early offers as trading volumes remained muted.The one-year OIS rate and the two-year OIS rate were not traded yet, while the liquid five-year swap inched lower at 5.67%.