March 7, 2014 / 3:12 AM / 3 years ago

MARKET EYE-Indian bond yields may ease; rupee gains to aid

* India's federal bond yields likely to ease as INR likely to
extend gains. The benchmark 10-year bond yield 
closed 5 bps lower at 8.79 pct.
* India cbank says to conduct 14-day term repo auction for 390
billion rupees ($6.32 billion) on Friday. 
* Gains in rupee also to support bonds, with INR likely to gain
past 61 to the dollar. 
* "The momentum is a bit positive for the last few days.
However, volumes will be hit as many dealers will be away for
the annual bond dealers' conference," says a senior trader.
* RBI Governor Raghuram Rajan to meet press after board meet in
New Delhi at 1305 IST. 
* India's balance of payments swung back into surplus during the
October-December quarter, helped by government curbs on gold
imports, after two quarters in deficit.    

 (subhadip.sircar@thomsonreuters.com/;
subhadip.sircar.thomsonreuters.com@reuters.net)

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