India 10-year yield rises to 7.015% amid Middle East tensions
Business
India's 10-year government bond yield ticked up for the third day in a row, hitting 7.015% on Monday morning.
The main reason? Crude oil prices are climbing fast, thanks to renewed Middle East tensions after US President Trump rejected Iran's response to the peace proposal and talks broke down.
Foreign investors sell, state-run banks buy
Foreign investors have started selling off Indian stocks and bonds, pulling out ₹39 billion from equities and trimming their holdings in both sovereign and corporate debt.
Meanwhile, state-run Indian banks stepped up to buy government bonds, helping stabilize things a bit despite all the global uncertainty.