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CAC 40 — French Market Index
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Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
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AED • EUR • GBP • USD IBANs   |   CROSS BORDER FX   |   LOCAL CURRENCIES   |   GLOBAL COVERAGE
Bonds

India 10Y Yield Holds as Fed Bets Ease

The yield on India’s 10-year G-Sec hovered around 6.76%, steadying after rising in the previous session as softer US jobs data and reduced expectations of a September Federal Reserve rate hike supported demand for longer-duration Indian debt, while rising oil prices tempered risk appetite. US employers unexpectedly shed 23,000 jobs in July, versus expectations for an 80,000 increase, prompting investors to cut the odds of a September Fed rate hike to 42% from 55% before the data. US Treasury yields also eased following the release. Meanwhile, Brent crude rose 0.4% to $83.90 a barrel, extending gains for a fourth day and limiting appetite for Indian bonds amid concerns over global inflation. The RBI kept its policy rate unchanged last week, while lowering its core inflation forecast by 40 bps to 4.3% and its headline inflation projection by 10 bps to 5%. Traders are also awaiting July CPI data on Wednesday, with inflation forecast to rise to 4.50% from 4.38% in June.

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