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India bonds to decline on elevated oil, hawkish RBI
MUMBAI: Indian government bonds are likely to weaken on Monday, as elevated oil prices stoke inflation worries, adding to pressures from a hawkish central bank and rate-hike expectations. The benchmark 6.94% 2036 bond yield may trade between 7.37% and 7.42%, according to a trader at a primary dealership, after closing at 7.3789% in the previous session. Bond yields rise when prices fall. Brent crude futures fell $1.94, or 1.77%, to $107.92 a barrel by 0227 GMT after settling at its highest since May 19 on Friday. Despite Monday’s pullback, escalating tensions in the Middle East supported crude...
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