Bonds extend gains for sixth day; no sale till RBI meet

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Government bonds extend gains for sixth session with benchmark 10-year bond yield down 3 bps at 8.59 per cent.

Absence of debt sale till RBI meet and hopes of no further rate hike driving bond rally.

The government has also deferred this week's debt sale and that the sale may actually be cancelled is keeping sentiment for bonds positive.

A sharp fall in yields is, however, unlikely as there is likely to be profit-taking around 8.58-60 percent levels, dealers say.

US Treasuries prices gained on Thursday after inflation data came in as expected and amid strength in German government debt and overnight demand for safe-haven US debt.

Source » Economic Times
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