May 30, 2013 / 4:02 AM / 5 years ago

MARKET EYE-Indian bond yields ease; crude eases, rupee gains

* India's old benchmark bond yield is 2 basis
points (bps) lower at 7.37 percent, largely driven by a drop in
global crude prices. 
* The new 10-year bond yield is also 2 bps lower
at 7.14 percent. 
* Oil futures slid nearly 2 percent on Wednesday as U.S. equity
markets fell and investors worried about an uncertain demand
outlook for the global economy following weak growth forecasts
for China. 
* A firmer rupee opening is also seen supporting sentiments
after the recent fall to 10-month lows sparked fears about the
funding of the current account deficit.
* The Reserve Bank of India will sell the new series of
inflation indexed federal government bonds 2023 using uniform
price method, it said on Wednesday. 
* Dealers will watch the gross domestic product data scheduled
to be released on Friday, and are hoping weaker growth will push
the RBI to cut interest rates again next month.


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