Dhawal Dalal says Dovish tone could take 10-year bond yield towards 6.35%

Wednesday: Dhawal Dalal of Edelweiss AM said, "Bond market is eagerly awaiting the MPC outcome today. The expectation is of a 25 bps cut but the tone of the policy and forward guidance will be equally important."

"A dovish tone could take 10-year bond yield towards 6.35 percent while a cut with hawkish tone may result in a 6.40-6.45 percent range amid profit booking. In case of no cut, government bond yields may harden by 10-15 bps in the near term amid positioning adjustment," he said.

 

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