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India 10-year yield hits Dec 2023 peak as US debt rout, oil spike hurt
MUMBAI: Indian government bonds were pummelled by an intensifying US debt rout and surging oil prices on Thursday, which compounded pain from the Reserve Bank of India’s first rate hike since February 2023 the previous day. Crude oil prices climbed 5% to over $105/barrel in Asian trade while the 10-year US Treasury yield rose more than 6 basis points to 5.34%, near levels last seen in 2002. India’s benchmark 6.94% 2036 bond yield climbed 4.5 basis points to 7.2869%, its highest close in almost three years. After surpassing the crucial 7.25% level, the move triggered stop-loss trades, traders s...
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