Indian Government bonds likely to receive some support - ICICI Bank : Treasury Research

The Indian Government bonds are likely to receive some support from flat trading witnessed overnight in the US treasuries. However, the upside remains capped ahead of the fresh supply of dated securities worth INR 150 bn on Friday. Meanwhile, persistent weakness in the Rupee has also led to bearish sentiment in the gilt markets though there was some relief yesterday, on measures taken by authorities to curb the currency weakness.

Markets would closely watch the May IIP and the June CPI data due on Friday. The 10-year benchmark, currently at 7.54% is expected to trade in the range of 7.50% and 7.60%.

Source : Equity Bulls

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