The govt is set to sell ₹34,000 crore of the benchmark 10-year note later in the day, testing demand in a market already pressured by policy-tightening expectations, oil-driven inflation and rising global yields.
The Indian 10-year bond hit a four-month low on Friday as a sharp sell-off in U.S. Treasuries battered market sentiment ahead of a large debt auction. The benchmark 10-year yield reached a four-month peak at 7.1391%, reflecting heightened concerns over global debt markets and inflationary pressures. With the Reserve Bank of India expected to raise rates by 50 basis points on October 7, the bond market is bracing for further tightening, as oil-driven inflation and global yield increases continue to weigh on investor sentiment.
Brief written by urgent.news from Hindu BusinessLine's own syndicated text.
Machine-written — may contain errors; check the original before relying on it.
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