February 14, 2018 / 4:37 AM / 6 months ago

BUZZ-India bonds rally on softer inflation, lower oil, higher US Treasuries

** Indian bonds rally as oil prices ease further, US Treasuries rise and domestic inflation data comes in lower than expected

** The 10-year benchmark bond yield was down to 7.47 percent from its Monday’s close of 7.50 percent. Markets were closed for a local holiday on Tuesday

** However, lack of buying from state-run banks, that constitute roughly 40 percent of market volume, according to a trader, is unlikely to support bonds once the government resumes its market borrowing from April

** India’s retail inflation rose 5.07 percent in January, lower than a Reuters poll of 5.14 percent on softer rise in food prices

** For reports on oil prices, US Treasuries see: (Reporting by Suvashree Dey Choudhury)

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