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Bounce Continues, Led By UK FTSE




Bear steepening


Unwinds some of yesterday's gains

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Bonds are expected to be supported again today amid broad risk off sentiment and as oil holds the majority of its sharp declines from Monday. The rupee is expected to weaken at the open alongside regional peers.

  • In domestic politics India's PM Modi was forced to deny allegations from the Indian National Congress that his government targeted its political rival for surveillance.
  • Participants await the results of an INR 170bn t-bill auction today, ahead of Friday's auction of government bonds. On Friday the RBI will sell INR 260bn of bonds at auction:
    • INR 30bn 4.26% 2023
    • INR 140bn 6.10% 2031
    • INR 90bn 6.76% 2061