Reuters Market Eye - The benchmark 10-year bond yield falls 2 basis points to 9.00 percent on Tuesday, after the announcement of the new 10-year bonds. The benchmark bond, which was on a shut period on Monday, had closed at 9.02 percent on Thursday.
The Reserve Bank of India will sell 150 billion rupees of bonds on November 22, including a new issue of 10-year paper, it said in a statement on Monday.
"The new 10-year paper is expected at 8.75-80 percent so the entire curve is getting repriced," a trader with a primary dealership says.
The 8.28 percent, 2027 bond, which was the most actively traded bond on Monday in the absence of the benchmark, was trading down 7 bps at 9.02 percent.
Dealers to watch Finance Minister P. Chidambaram's speech after the inauguration of an all women's bank at 4 p.m.
(Reporting by Archana Narayanan)
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