Advertisement
Singapore markets closed
  • Straits Times Index

    3,224.01
    -27.70 (-0.85%)
     
  • Nikkei

    40,168.07
    -594.66 (-1.46%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Bitcoin USD

    70,828.29
    +1,701.02 (+2.46%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,250.92
    +2.43 (+0.05%)
     
  • Dow

    39,762.45
    +2.37 (+0.01%)
     
  • Nasdaq

    16,382.89
    -16.63 (-0.10%)
     
  • Gold

    2,245.60
    +32.90 (+1.49%)
     
  • Crude Oil

    82.82
    +1.47 (+1.81%)
     
  • 10-Yr Bond

    4.1960
    0.0000 (0.00%)
     
  • FTSE Bursa Malaysia

    1,530.60
    -7.82 (-0.51%)
     
  • Jakarta Composite Index

    7,288.81
    -21.28 (-0.29%)
     
  • PSE Index

    6,903.53
    +5.36 (+0.08%)
     

India RBI likely to set 7.23% cutoff yield on new 10-year bond - Reuters poll

A man walks past the logo of Reserve Bank of India (RBI) inside its headquarters in Mumbai

MUMBAI (Reuters) - The Reserve Bank of India will likely set a cutoff yield of 7.23% on 130 billion rupees ($1.63 billion) of the new 10-year bond being auctioned on Friday, according to the median estimates in a Reuters poll of 11 traders.

India's federal government is also selling 40 billion rupees of a 6.69% 2024 bond, 70 billion rupees of a 7.10% 2029 bond and 90 billion rupees of a 6.95% 2061 bond.

The RBI will likely sell the 2024 bond at a 6.54% yield, while it will sell the 2029 bond at a 7.15% yield, according to the poll. The central bank is expected to sell the 2061 bond at a 7.62% yield.

The cutoff estimates for the 2024 bond were between 6.51% and 6.56%, while those for the 2029 note were between 7.14% and 7.16%.

ADVERTISEMENT

The estimates for the new 2032 10-year bond were between 7.21% and 7.26%, while those for the 40-year paper were between 7.60% and 7.63%.

The government has a greenshoe option to retain an additional 20 billion rupees on each security.

($1 = 79.7500 Indian rupees)

(Reporting by Dharamraj Lalit Dhutia; Editing by Vidya Ranganathan)