Indian bond yields hit May 2024 highs amid oil spike
Business
India's government bond yields just hit their highest point since May 2024, thanks to a spike in crude oil prices and worries over global tensions.
Oil shot up to about $107 a barrel after US President Trump hinted at more action against Iran, which has markets on edge and pushed bond yields up for the 12th day in a row.
RBI meeting pivotal amid ₹29,000cr auction
With foreign investors pulling back and another big ₹29,000 crore government bond auction coming up, all eyes are now on the Reserve Bank of India.
The RBI's policy meeting from April 6-8 could set the tone for how India handles these challenges.
Analysts say where bond yields go next depends a lot on what happens globally, so expect some twists ahead.