Indian bond yields slightly higher ahead of auction

MUMBAI: Indian federal bond yields were marginally higher on Friday as traders made room for an auction later in the day. The absence of a bond buyback by the central bank also weighed on sentiment.

At 9:25 a.m. (0355 GMT), the 10-year benchmark bond yield was at 8.34 percent, up from Wednesday's close of 8.32 percent. The market was closed on Thusday for Republic Day.

The government will sell 40 billion rupees ($803.2 million) of 8.19 percent 2020 bonds, 60 billion rupees of 9.15 percent 2024 bonds and 30 billion rupees of 8.97 percent 2030 bonds on Friday. The results are due after 2:30 p.m.