The domestic currency has depreciated over 10% against the greenback so far this year
MUMBAI (Reuters) - The Indian rupee and government bond yields are likely to take cues from the outcome of the U.S. Federal Reserve's monetary policy meeting on Dec. 14, one of a host of high-profile, potentially market-moving economic events in the week.
The quantum raised through Tier 2 bonds is set to rise much further in coming days as Axis Bank is slated to sell Rs 12,000 crore of such instruments on Friday
RBI may have moderated rate hike, but vigilant tone suggests defence of rupee
India's benchmark 10-year bond yields are expected to rise on the back of higher government borrowings, while the rupee could see steep depreciation by end of this financial year
The private lender raised 150 billion rupees ($1.85 billion) through 10-year Tier-II bonds at an annual coupon of 7.86%, for which it had received bids worth 240.80 billion rupees
Tier-2 bond sale plan comes amid sharp decline in bond yields
The government may avoid incremental borrowing via the bills and only borrow to meet its previous repayment needs in the next quarter
Here is the best of Business Standard's opinion pieces for today
Transparency will be critical for green bonds
The decision to go slow on these fund-raising plans - despite the booming credit growth - came at a time when bond market conditions turned turbulent
For the moment, investors remain convinced that the Fed is on a course that ultimately will bring the economy to its knees
Total trade volumes in the regular secondary bond market were at Rs 21,150 crore on Thursday
The 10-year U.S. yield rose above 4.10%, but the two-year US yield, which is a more direct indicator of rate expectations, rose closer to its highest level in over 15 years
Cash market turnover fell almost 20% in October as rally take traders by surprise
A sudden resignation by the founder and chairwoman of a top Chinese builder has added to concerns over China's ailing property sector, fueling a further selloff
India's retail inflation stood at 7.41% in September, higher than the 2%-6% target zone for the ninth straight month
The spread between Indian government bond yields and their corporate counterparts is expected to widen in the second half of this year
A weakening bias in the rupee continued in October with foreign portfolio investment outflows, pushing it above 82 levels
Gold prices were set for a second weekly decline as US Treasury yields held near multi-year highs following strong labour market data and hawkish comments from Federal Reserve officials