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MARKET EYE-Indian OIS rates little changed ahead of factory data
January 10, 2013 / 7:48 AM / 5 years ago

MARKET EYE-Indian OIS rates little changed ahead of factory data

Jan 10 (Reuters) - * India's benchmark 5-year overnight
indexed swap rate up 1 basis point at 7.17
percent while the 1-year rate steady at 7.55
percent.
* Traders largely on the sidelines ahead of factory output data
on Friday and inflation data on Monday.
* Some investors cutting positions in the 5-year paper and
receiving the 1-year on expectations of a cut in repo rate later
this month, causing the negative spread between the two rates to
shrink.
* The negative spread between the 5-year and the 1-year is seen
narrowing to 30 basis points closer to the policy, dealers say.

 (swati.bhat@thomsonreuters.com/;
swati.bhat.thomsonreuters.com@reuters.net)

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