Latest news with #U.S.Treasury
Business Recorder
2 hours ago
- Business
- Business Recorder
India bonds steady as traders await fresh cues
MUMBAI: Indian government bonds little changed on Wednesday in the absence of any fresh domestic triggers and shrugging off a decline in U.S. Treasury bonds. The yield on the benchmark 10-year bond was at 6.3090% as of 10:05 a.m. IST after closing at 6.3090% on Tuesday. The five-year 6.75% 2029 bond yield was steady at 5.9875%, compared with Tuesday's close of 5.9880%. Bond yields move inversely to prices. 'Bonds should remain rangebound for now as there aren't many domestic triggers. U.S. Treasury moves will be key,' a trader with a state-run bank said. The U.S. 10-year bond yield rose 1.4% to 4.49% on Monday, up 15 basis points in four sessions and nearing the crucial 4.50% mark. The yield edged slightly lower in Asian hours on Tuesday, hovering at 4.47%. U.S. consumer prices rose 0.3% in June, marking the largest increase in five months. India bonds yields steady around key levels as RBI to mop up liquidity The uptick, driven by higher costs for some goods, suggests that tariffs are starting to show an impact on inflation, potentially prompting the Federal Reserve to hold off on rate changes until September. Meanwhile, foreign investors increased allocation to India's four-year paper as they found the yields attractive, traders said. These investors net bought more than 13 billion rupees ($151.2 million) of 7.26% 2029 bond in the last two trading sessions, CCIL data showed. Rates India's shorter overnight index swap rates (OIS) barely moved in early deals, while the 5-year rate saw paying pressure due to elevated U.S. Treasury yields. The one-year was at 5.53% and the two-year OIS rate at 5.50%. The liquid five-year rose 1 basis point to 5.74%.
Business Recorder
2 hours ago
- Automotive
- Business Recorder
Indian benchmarks inch lower dragged by auto stocks; HDFC Bank caps losses
India's benchmark shares inched lower on Wednesday, dragged by auto stocks after Tesla's entry into the local market, while gains in heavyweight HDFC Bank capped some losses amid subdued market sentiment across Asia due to a pick-up in U.S. inflation. The Nifty 50 was down 0.21% at 25,140.6 points, while the BSE Sensex lost 0.18% to 82,424.96, as of 10:18 a.m. IST. Nine of the 13 major sectors declined. The auto index fell 0.8%, with Mahindra & Mahindra and Tata Motors both losing 1%. Citi Research analysts said Tesla's Model Y was unlikely to disrupt the Indian market immediately, but warned that reduced import duties or local manufacturing could escalate the competitive threat. The metal index fell 0.8% on a stronger dollar, which makes commodities costlier for holders of other currencies. The broader small-caps and mid-caps traded flat. India's HCLTech slides on lower annual operating margin forecast HDFC Bank, the heaviest stock in both Nifty and Sensex, gained 0.8% after the top private lender said it will consider issuing bonus shares at a board meeting on July 19. Other Asian markets inched lower, with the MSCI Asia ex Japan index dropping 0.1% while U.S. Treasury yields and the dollar rose as investors digested a slight rise in U.S. inflation. Higher U.S. Treasury yields are negative for inflows into emerging markets such as India. The uptick in inflation, partly fueled by President Donald Trump's tariffs, has poured cold water on U.S. rate cut hopes and could pressure equity valuations, said Devarsh Vakil, head of prime research at HDFC Securities. The market's direction will hinge on developments around the U.S.-India trade deal and cues from the ongoing earnings season, said two analysts Among individual stocks, HDB Financial lost 2.6% after posting a profit drop in the June quarter, hurt by higher provisions for bad loans. Dixon Technologies gained 2.5% after CLSA reiterated its 'high conviction outperform' rating, citing benefits from the firm's push for deeper smartphone component integration.
Economic Times
3 hours ago
- Business
- Economic Times
India bonds steady as traders await fresh cues
Indian government bonds remained stable on Wednesday, disregarding a decline in U.S. Treasury bonds, with the benchmark 10-year bond yield at 6.3090%. Synopsis Indian government bonds remained stable on Wednesday. This stability occurred due to the absence of new domestic factors. The yield on the benchmark 10-year bond was at 6.3090%. U.S. Treasury moves will be key for future bond movements. Foreign investors increased allocation to India's four-year paper. They found the yields attractive. Indian government bonds little changed on Wednesday in the absence of any fresh domestic triggers and shrugging off a decline in U.S. Treasury bonds. ADVERTISEMENT The yield on the benchmark 10-year bond was at 6.3090% as of 10:05 a.m. IST after closing at 6.3090% on Tuesday. The five-year 6.75% 2029 bond yield was steady at 5.9875%, compared with Tuesday's close of 5.9880%. "Bonds should remain rangebound for now as there aren't many domestic triggers. U.S. Treasury moves will be key," a trader with a state-run bank said. The U.S. 10-year bond yield rose 1.4% to 4.49% on Monday, up 15 basis points in four sessions and nearing the crucial 4.50% mark. The yield edged slightly lower in Asian hours on Tuesday, hovering at 4.47%. ADVERTISEMENT U.S. consumer prices rose 0.3% in June, marking the largest increase in five months. The uptick, driven by higher costs for some goods, suggests that tariffs are starting to show an impact on inflation, potentially prompting the Federal Reserve to hold off on rate changes until September. ADVERTISEMENT Meanwhile, foreign investors increased allocation to India's four-year paper as they found the yields attractive, traders said. These investors net bought more than 13 billion rupees ($151.2 million) of 7.26% 2029 bond in the last two trading sessions, CCIL data showed. ADVERTISEMENT RATES India's shorter overnight index swap rates (OIS) barely moved in early deals, while the 5-year rate saw paying pressure due to elevated U.S. Treasury yields. The one-year was at 5.53% and the two-year OIS rate at 5.50%. The liquid five-year rose 1 basis point to 5.74%. ($1 = 85.9875 Indian rupees). (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Time of India
3 hours ago
- Business
- Time of India
India bonds steady as traders await fresh cues
Indian government bonds little changed on Wednesday in the absence of any fresh domestic triggers and shrugging off a decline in U.S. Treasury bonds . The yield on the benchmark 10-year bond was at 6.3090% as of 10:05 a.m. IST after closing at 6.3090% on Tuesday. The five-year 6.75% 2029 bond yield was steady at 5.9875%, compared with Tuesday's close of 5.9880%. Bond yields move inversely to prices. "Bonds should remain rangebound for now as there aren't many domestic triggers. U.S. Treasury moves will be key," a trader with a state-run bank said. Bonds Corner Powered By India bonds steady as traders await fresh cues Indian government bonds remained stable on Wednesday. This stability occurred due to the absence of new domestic factors. The yield on the benchmark 10-year bond was at 6.3090%. U.S. Treasury moves will be key for future bond movements. Foreign investors increased allocation to India's four-year paper. They found the yields attractive. Indonesia launches 5-year US dollar Islamic bond, 10-year green sukuk, term sheet shows India's long-term bonds decline before debt sale, Treasury moves pinch BOJ's cautious stance adds to bond market volatility Japan's 30-year bond yield hits record high ahead of key election Browse all Bonds News with The U.S. 10-year bond yield rose 1.4% to 4.49% on Monday, up 15 basis points in four sessions and nearing the crucial 4.50% mark. Live Events The yield edged slightly lower in Asian hours on Tuesday, hovering at 4.47%. U.S. consumer prices rose 0.3% in June, marking the largest increase in five months. The uptick, driven by higher costs for some goods, suggests that tariffs are starting to show an impact on inflation , potentially prompting the Federal Reserve to hold off on rate changes until September. Meanwhile, foreign investors increased allocation to India's four-year paper as they found the yields attractive, traders said. These investors net bought more than 13 billion rupees ($151.2 million) of 7.26% 2029 bond in the last two trading sessions, CCIL data showed. RATES India's shorter overnight index swap rates (OIS) barely moved in early deals, while the 5-year rate saw paying pressure due to elevated U.S. Treasury yields. The one-year was at 5.53% and the two-year OIS rate at 5.50%. The liquid five-year rose 1 basis point to 5.74%. ($1 = 85.9875 Indian rupees).
Yahoo
17 hours ago
- Business
- Yahoo
Bitcoin, XRP Open Interest Nears Record High as Bull Market Pullback Unfolds
The bitcoin (BTC) market rally has stalled in the past 24 hours as expected, but instead of consolidation, prices have pulled back over 5% to $116,800 from record highs in a move typical of a bull market pullback. Reports suggest that profit-taking by long-term holders is weighing on the cryptocurrency's price. It's common for markets to revisit breakout points, in this case, the May 22 high of around $111,960, and test the underlying buying interest before chalking out bigger rallies. A similar dynamic played out earlier this year as prices dropped from over $100,000 of $75,000, revisiting the breakout point from late 2024. From a technical analysis perspective, the broader bullish bias will prevail while prices remain locked in the ascending channel on the daily chart. Over the next 24 hours, the focus will be on the hourly chart, which shows a steep corrective trend lower, with prices trading below the Ichimoku cloud to suggest bearish momentum. However, the RSI on the hourly chart has dropped below 30, indicating an oversold condition – a stark contrast to the above-70 or overbought reading seen a day ago. So, a bounce cannot be ruled out. The probability of a pullback to $111,960 would weaken if the potential recovery ends the downward-trending channel. Such a move will likely result in fresh record highs. Open interest nears record high Volatility could remain high as cumulative open interest in onshore and offshore futures and offshore perpetual futures has increased to 734.82K BTC, which is just shy of the record 744K BTC in October 2022, according to data source CoinGecko. The growth in open interest is likely being led by offshore exchanges as the number of active contracts on the CME remains below the May high, with the three-month annualized basis still below 10%. Conversely, annualized funding rates on offshore perpetuals have topped 11%, indicating a growing demand for the bullish exposure. The MOVE index, which gauges 30-day implied volatility in U.S. Treasury notes, has rebounded from a critical level that has consistently foreshadowed sharp spikes in market volatility since 2024. That's a cause for concern for the bulls because volatility spikes in the Treasury market tend to lead to financial tightening, a risk-off development. Moreover, since 2024, bottoms in MOVE have marked interim BTC price tops. Watch out for the history to repeat itself, leading to a deeper BTC bull market pullback. AI's take: Bitcoin's 5% pullback is a healthy bull market feature, aiming to retest the key breakout level of $111,960 before potentially initiating a stronger rally. Resistance: $118,000-118,500, $120,000, $123,181 Support: $113,688 (the 38.2% Fib retracement of the rally from June 22 lows), $111,965, $107,823 (the 61.8% Fib) XRP (XRP) has dropped from $3 and appears to be trapped in a downward-trending channel on the hourly chart, mirroring BTC. Still, XRP appears relatively better off, holding the confluence of the 100-hour simple moving average (SMA) and the Ichimoku cloud at $2.81. A breakout from here would imply an end to the correction and resumption of the broader uptrend toward the yearly peak of $3.4. On the way higher, bulls will likely be tested again at around $3. Watch out for the move below the Ichimoku cloud, as that would strengthen the immediate bear case, shifting focus to the 200-hour SMA at $2.6. Again, volatility could be elevated with perpetual futures open interest hitting a record high of 2.74 billion XRP, according to Coinglass. The annualized XRP funding rates hover at 15%, indicating a growing bias for leveraged bullish plays. AI's take: Despite XRP's hourly chart showing a BTC-mirroring downtrend from $3, its strong hold above the 100-hour SMA and Ichimoku cloud at $2.81 signals underlying support. Record perpetual futures open interest and high funding rates indicate significant leveraged bullish demand, making a breakout above $3, towards $3.4, likely if current support holds. Resistance: $3, $3.4 Support: $2.81, $2.6-$2.65, $2.38 Ether (ETH) remains trapped in an expanding triangle, with the daily stochastic flashing an overbought reading, pointing to stretched upward momentum, which weakens the case for a firm breakout in the short term. A consolidation around the resistance looks likely as prices are firmly above the Ichimoku cloud on the daily chart and short-term SMAs point north, indicating a bullish bias. An eventual breakout would shift focus to $3,400, a level targeted by options traders. AI's take: The daily stochastic being overbought indicates that momentum is stretched, making a convincing push above the upper trendline unlikely in the short term. Resistance: $3,067 (the 61.8% Fib retracement), $3,500, $3,570, $4,000. Support: $2,905, $2,880, $2,739, $2,600 SOL's upside remains elusive despite the dual breakout on the daily chart. Since Friday, the bulls have failed at least twice to chew through bearish pressures at around $168, as evidenced by the long upper wicks attached to the candles for Monday and Friday. So, a break above $168 is now needed to confirm bullishness. On the downside, $157 is the level to watch as it marks the neckline support of the double top pattern on the hourly chart. A breakdown of the support line would imply potential for a deeper decline to $146, per the measured move method. AI's take: Traders should watch for a definitive break above $168 to confirm bullish continuation; otherwise, a loss of the $157 neckline support could trigger a deeper decline towards $146. Resistance: $168, $180-$190, $200. Support: $157, $145, $125. 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