The yield on the existing benchmark 10-year was at 7.0835% as of 10:00 a.m. IST on Tuesday, following its close of 7.0556% on Thursday. The markets were shut on Friday and Monday.
The +216K headline NFP number doesn’t square with the HS’s and a loss of full-time jobs. Labor markets have loosened, and, in our view, have a rocky near-term future.
To access the growing demand from insurers and pension funds is the prime motivation behind the Reserve Bank of India’s move to auction a 50-year government bond on November 3.