India 10-year yield rises as U.S.-Iran clashes close Hormuz
Business
India's 10-year bond yield ticked up to 6.96% after global oil prices climbed to $101 a barrel and the rupee lost ground against the US dollar.
The reason? Fresh military clashes between the the US and Iran have shut down the crucial Strait of Hormuz, pushing energy costs higher.
Markets eye ₹34,000 cr auction
Since India imports most of its oil, pricier crude means more inflation pressure at home, and that affects everything from government borrowing costs to your wallet.
Markets are also watching today's big government bond auction (₹34,000 crore up for grabs) to see how investors react.
Even as tensions rise, US President Trump says a cease-fire with Iran is still technically on, but energy markets remain shaky.