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Auction Details

INDIA

The RBI announced details of Friday's INR 290bn auctions, results due after 0930GMT/1500IST:

    • INR 110bn 5.15% 2025 bonds
    • INR 110bn 5.85% 2030 bonds
    • INR 70bn 6.76% 2061 bonds
  • The RBI has taken steps to assuage market fears though its OMOs and verbal guidance. RBI Governor Das said yesterday is would provide support to bond markets and ensure issuance proceeds smoothly.
  • The RBI sold less than half the planned amount of INR 100bn at operation twist yesterday, a move that supported markets and saw yields retreat, the bank kept purchases unchanged at INR 100bn and once again concentrated the purchases in the 10-year sector, allocating 50.2%. The RBI said it will conduct another twist operation for INR 100bn next week.

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