India bonds seen boxed in narrow range, all eyes on RBI verdict

Indian government bonds are likely to be little changed at the open on Tuesday, with traders pricing in the central bank's first rate hike in nearly four years ahead of its policy decision a day later. The benchmark 6.94% 2036 bond yield may trade in a 7.19%-7.24% band, traders with a primary dealership said, after ending at 7.2108% on Monday. The yield has risen in each of the last seven weeks, gaining a cumulative 45 basis points, its longest such streak in over a year.