MUMBAI: Indian government bond yields are expected to kick off the week with a slightly downward bias in wake of US Treasury yields nearly pulling back to the levels they were prior to Donald Trump’s victory.

The benchmark 10-year bond yield is likely to move between 6.75% and 6.7850%, compared with 6.7762% on Friday, according to trader at a state-run bank.

The yield dropped nearly 3 basis points last week amid the volatility in the US fixed income market on account of the elections.

The momentum is marginally on the downside (for yields) with “good support” expected at 6.75%, a fixed income trader at a bank said.

“To me, it looks like the Trump effect is done for the time being and we are back to focussing on inflation.”

India’s October consumer inflation data is due on Tuesday.

Economists polled by Reuters expected it to climb to a 14-month high of 5.81% in October primarily on back of a rise in vegetable and edible oil prices.

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The rise in the inflation rate alongside recent hawkish comments from Reserve Bank of India chief Shaktikanta Das have pulled down the probability of a December rate cut.

US reports its inflation print the next day with economists expecting core consumer price index to rise 0.3% month-on-month, matching September’s pace.