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Indian bonds hang tight ahead of supply

News Snapshot:

Indian government bonds were pinned in a narrow range on Friday, as a hefty auction of benchmark 10-year debt kept traders guarded while they assessed the central bank's policy outlook.The benchmark 6.94% 2036 bond yield was at 7.3895% at noon, versus 7.3921% on Thursday. Bond yields move inversely to prices.New Delhi's 340 billion rupee ($3.58 billion) sale of the 10-year paper will test demand in a market already swamped by supply, where concerns have intensified since central and state borrowing calendars tilted toward longer-dated issuance.Indian bonds hang tight ahead of supplyIndian government bonds remained stable on Friday as traders contemplated…

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