India 10 year yield rises to 7.04% after US strikes
Business
India's 10-year bond yield ticked up to 7.04% on Tuesday, May 26, 2026 after a sharp drop the day before.
The reason? Brent crude oil prices shot up over 2% overnight (almost hitting $98 a barrel) thanks to fresh US strikes on Iran that stirred up global tensions.
Fuel rises threaten inflation, rupee slips
Those US strikes have put peace talks with Iran in jeopardy, especially around reopening the Strait of Hormuz, which is key for oil supply.
With crude prices rising, fuel in India is getting pricier, and economists are warning inflation could go up by 10 to 20 basis points soon.
The rupee also slipped a bit, opening lower against the dollar.