We expect the 10-year benchmark bond yield to trade in a range of 7.52-7.56 percent for the day, says Mohan Shenoi of Kotak Mahindra Bank.
Mohan Shenoi of Kotak Mahindra Bank said, "Higher than expected US CPI has increased the probability of Fed rate hikes to 4 times this year including March. This coupled with sudden spurt in oil prices weakened the dollar and exerted upward pressure on US Treasury yields."
"In-line with the global trend, the rupee is expected to strengthen against dollar today with a trading range of between 63.85-64.15."
"The bond market in India is expected to be bearish today on the back of higher crude oil prices and US Treasury yields."