Indian bond yields steady, seen in tight band

MUMBAI: Indian federal bond yields were steady early on Thursday, as high global oil prices offset the Reserve Bank of India's plan to buy debt worth up to $2.44 billion on Friday.

At 9:14 a.m. (0344 GMT), the 10-year benchmark bond yield was unchanged at 8.20 percent. Traders said they expect the yield to move in a tight band of 8.19-8.22 percent.

Front-month Brent rose 8 cents to $112.74 a barrel by 0325 GMT, after settling $1.11 higher at $122.66 in the previous session.

The bonds scheduled to be bought by the RBI on Friday are: 9.15 percent 2024, 8.35 percent 2022 bonds, 8.28 percent 2027 bonds and 8.28 percent 2032 bonds.