India's 10-year bond yield steady at 6.8380% before RBI meeting
India's 10-year government bond yield barely budged on Tuesday, holding at 6.8380%.
All eyes are now on the Reserve Bank of India's (RBI's) big monetary policy meeting coming up on August 5, where most expect interest rates to stay put at 5.25%.
The market is basically in wait-and-watch mode to see what the RBI says about inflation and the economy.
State governments auction ₹26,850cr today
State governments are raising ₹26,850 crore through a debt auction today, which could nudge bond yields in the short term.
Earlier, Indian bonds took a slight hit when Bloomberg delayed adding them to its global index, but higher foreign inflows from RBI's schemes helped balance things out.
Investors are watching closely for signals from the RBI that could shape India's financial scene in the months ahead.