July 2, 2012 / 10:26 AM / in 5 years

MARKET EYE-India bond yields in range; dealers say OMO unlikely

* India’s 10-year benchmark bond yield up 1 basis point at 8.39 percent. * The 8.15 percent 2022 bond, the new benchmark bond from Tuesday, at 8.18 percent, flat from previous close. * Dealers say most market participants not expecting any OMO this week as banks flush with funds with quarter-end closing, improving liquidity. * Sharp rupee rise on Friday, the highest daily percentage gain in three years, will reduce need for any immediate intervention, they add. * India to sell 150 billion rupees of debt this week. (subhadip.sircar@thomsonreuters.com)

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