Indian bond yields fall below 7% on U.S.-Iran peace hopes
Business
Indian government bonds got a boost on Wednesday thanks to falling crude oil prices, sparked by hopes of a U.S.-Iran peace deal.
The benchmark bond yield slipped below 7%, easing worries about inflation for India, which relies heavily on imported oil.
Investors seemed more upbeat as everyone waited for clearer news from the ongoing negotiations.
India plans ₹34,000 cr bond auction
Brent crude prices slid over 5% since Monday's close, now hovering around $108 per barrel after President Donald Trump hinted at progress in tackling Middle East supply issues.
With this backdrop, India is gearing up for a big debt auction on Friday, planning to raise ₹34,000 crore with new 10-year bonds, hoping lower oil prices will help keep borrowing costs in check and support the economy.