Expect 10-year bond yield to trade in 7.74-7.79% range: Mohan Shenoi
Mohan Shenoi of Kotak Mahindra Bank said, “US FOMC minutes caused market volatility with US treasury yields touching a new high, US stock markets reversing early gains and dollar strengthening further.”
“Recent negative developments in Indian banking sector has put pressure on the rupee. The USD-INR is expected to trade in a range of 64.75-65.05 for the day.”
“RBI MPC minutes for February highlighted upside risk to inflation due to rising crude prices, MSP increases, fiscal slippage and Pay Commission implementation.”
“The G-Sec market is expected to continue to be bearish with low demand and falling trading volumes. The 10-year benchmark bond yield is expected to trade in a range of 7.74-7.79 percent for the day,” he added.