Indian bond yields jump to 6.96% as oil nears $110
Business
Bond yields in India jumped to 6.96% as oil prices shot up near $110 a barrel, putting fresh pressure on inflation and the rupee.
The spike in crude is making traders nervous, especially with ongoing U.S.-Iran tensions adding to worries about global oil supplies.
Markets eye Fed, India debt auction
All eyes are now on the US Fed meeting for hints about interest rates, plus a major Indian government debt auction that could shake things up.
The rupee opened weaker at 94.37 per dollar; Amit Pabari from CR Forex Advisors notes it's holding steady for now, but faces resistance if things heat up further.