May 30, 2012 / 9:43 AM / in 5 years

MARKET EYE-India 10-yr yield pares rise to trade flat

* India's benchmark 10-year bond yield steady at
8.52 percent, retreating from a three-week high of 8.56 percent
hit earlier in the session.	
* Global risk aversion from the euro zone kept investors on the
sidelines. However, some traders suspected secondary market
buying by the central bank in longer maturities.	
* Traders say the central bank has been spotted buying bonds in
recent sessions. The latest data from the RBI shows they had
bought a net 123.5 billion rupees worth of bonds in the week to
May 18.	
	
 (swati.bhat@thomsonreuters.com/;
swati.bhat.thomsonreuters.com@reuters.net)

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