India state debt debt/bonds | Financial Post

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MUMBAI — Indian state bond cutoff yields are expected to dip marginally as quantum on offer continues to be lower than scheduled, traders say. ** Indian states to raise 140 billion rupees ($1.75 billion) via 8-year to 20-year bonds, against 245 billion rupees scheduled ** “Lower quantum will continue to work in state debt’s favor, and today’s auction will go through comfortably,” a trader with a private bank says ** Indian 10-year benchmark bond yield was at 7.25%, against 7.29% during last week’s auction

** “The 15-year to 20-year bonds are likely to see strong bidding interest from large state-run insurer,” a trader with a primary dealership says.

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($1 = 80.0425 Indian rupees) (Reporting by Dharamraj Lalit Dhutia)

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