The 10Y bond seems to have broken its short term trading range of 8.65-8.80 and is currently trading at 8.85. There have been some calls for a 9.20+ levels there.
Technically, as long as we do not close below 8.83, the upside in yields is pretty much open. Come April and a front loaded borrowing calendar (INR 80000 Cr of redemptions in the first 45 days), 10Y yield is looking to stabilize at much higher levels than at present.
Technically, as long as we do not close below 8.83, the upside in yields is pretty much open. Come April and a front loaded borrowing calendar (INR 80000 Cr of redemptions in the first 45 days), 10Y yield is looking to stabilize at much higher levels than at present.
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