Indian bonds steady as oil tops $114, US yields slip
Business
Indian government bonds held steady on Friday, even as oil prices shot up past $114 a barrel after attacks in Saudi Arabia raised supply fears.
At the same time, US Treasury yields dropped below 5% due to weak economic data, making investors everywhere a bit uneasy about what's next for the global economy.
Indian government plans ₹330B bond sale
India buys about 90% of its oil from other countries, so pricier crude means higher import bills and more inflation worries.
The Reserve Bank of India just raised interest rates to help keep inflation in check.
Meanwhile, the government is planning to raise ₹330 billion ($3.48 billion) by selling bonds today, one way it is trying to manage money smartly while things stay unpredictable around the world.