The US jobs data was better and the US bond yields too softened by about 5 basis points. There is a possibility that the Fed will talk in dovish tones in the upcoming Fed meeting and some of the recent damage might get unwound. Markets could see a temporary rally said CNBC-TV18's, managing editor, Udayan Mukherjee.
Sharing the sentiment in the bond market, Partho Mukherjee, Senior VP Forex and Treasury at Axis Bank said that given the slowdown in India's growth numbers, it is not expected to see bond yields touching the levels of 8.7%.