May 30, 2013 / 4:02 AM / 4 years ago

MARKET EYE-Indian bond yields ease; crude eases, rupee gains

* India's old benchmark bond yield is 2 basis
points (bps) lower at 7.37 percent, largely driven by a drop in
global crude prices. 
* The new 10-year bond yield is also 2 bps lower
at 7.14 percent. 
* Oil futures slid nearly 2 percent on Wednesday as U.S. equity
markets fell and investors worried about an uncertain demand
outlook for the global economy following weak growth forecasts
for China. 
* A firmer rupee opening is also seen supporting sentiments
after the recent fall to 10-month lows sparked fears about the
funding of the current account deficit.
* The Reserve Bank of India will sell the new series of
inflation indexed federal government bonds 2023 using uniform
price method, it said on Wednesday. 
* Dealers will watch the gross domestic product data scheduled
to be released on Friday, and are hoping weaker growth will push
the RBI to cut interest rates again next month.

 (subhadip.sircar@thomsonreuters.com/subhadip.sircar.thomsonreut
ers.com@reuters.net)

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