India corp bond yields little changed, Fed eyed

MUMBAI, Nov 4 (Reuters) - Indian corporate bond yields were litte changed on Wednesday, as traders awaited a policy decision from the U.S. Federal Reserve later in the day.

The Fed is expected to reaffirm its intention to keep U.S. rates at ultra-low levels for a long time to support the economy, even as signs of recovery build up. [ID:nN03518590]

The yield on the Reuters benchmark five-year corporate bond AAAIN5Y= ended at 8.47 percent, a shade lower than Tuesday's 8.48 percent.

The spread between the five-year corporate and government bonds narrowed to 94.88 basis points from 99.86 basis points on Tuesday.

The yield on the 10-year benchmark bond IN069019G=CC ended at 7.28 percent, above Tuesday's close of 7.22 percent.

Housing Development Finance Corp's bond maturing in 2011 was the highest traded, with a volume of 3.70 billion rupees on the NSE.

Total volume traded was 17.46 billion rupees, lower than Tuesday's 7.84 billion rupees, Thomson Reuters data showed.

This data is sourced from the Bombay Stock Exchange, National Stock Exchange and Fixed Income Money Market and Derivatives Association of India (FIMMDA). (Reporting by Anurag Joshi; Editing by Sunil Nair)