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Corporate Spreads Narrow

INDIA
  • Markets await the results of an INR 260bn bond auction which includes the second tap of the new 10-Year issue. Yields rose yesterday despite a strong showing at the RBI's GSAP operation with cutoff yields lower than expected, which could indicate some set up ahead of today's auction. Elsewhere local currency corporate bonds are on track for their best week in four as the average yield on a three-year corporate issue falls 7bps.

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