Indian bond yields ease after buyback announcement

MUMBAI: Indian government bond yields eased early on Wednesday after the central bank said it would buy back bonds worth 120 billion rupees ($2.4 billion) on Friday.

After the market closed on Tuesday, the central bank said the buyback bonds are: 8.07 percent 2017, 7.80 percent 2021, 8.08 percent 2022 and 8.28 percent 2032.

At 9:20 a.m. (0350 GMT), the 10-year benchmark bond yield was down 2 basis points at 8.20 percent.

Traders said the yield could rise to 8.25 percent later in the day because of fading expectations of a rate cut at the central bank's policy next Tuesday and weighed by rising debt supplies.