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MARKET EYE-Indian OIS rates rise; fiscal concerns back
August 27, 2013 / 8:28 AM / 4 years ago

MARKET EYE-Indian OIS rates rise; fiscal concerns back

* India's overnight indexed swaps rise, tracking a sharp spike
in bond yields as rupee falls past 66 to the dollar. 
* Dealers say concerns on fiscal deficit back after India's
lower house approves a spending plan of nearly $20 billion to
provide cheap food to poor. 
* The benchmark five-year OIS rate up 13 basis
point at 8.55 percent, while the one-year rate 
rises 9 bps to 9.59 percent.
* RBI's open market operations announcement of bond purchases up
to 80 billion rupees on Friday does not help market sentiment
much.
* India's 10-year benchmark yield up 22 bps at
8.56 pct.    

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

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