India 10-year government bond yield crosses 7% mark, closes 7.01%
Business
India's 10-year government bond yield just crossed the 7% mark, closing at 7.01% on Thursday.
This uptick was mainly driven by a spike in crude oil prices and some tough talk from the US Federal Reserve.
Yields even touched 7.06% during the day before settling down as oil prices cooled off a bit.
India money market rates hit 5.07%
Rising bond yields and money market rates (which went up to 5.07% from last week's 5%) are signs that borrowing money is getting pricier, thanks to global economic pressures and less cash floating around in banks.
It's a reminder that what happens with oil prices or central banks abroad can quickly ripple through India's financial scene, affecting everything from loans to investments.