New 10-year yield should decline by 3-4 bps: Amandeep Chopra

Amandeep Chopra, UTI MF said, "The bond markets were disappointed on account of lack announcements on liquidity inducing measures by the RBI in their policy yesterday. However, markets will be pacified by the Rs 20,000 cr bond buyback announced. Expect OMOs by the end of this week, or start of the next week, so the yields will account for that. For today, the new 10-year should decline by 3-4 bps and trade around 7.66-7.68%."