Indian government bond yields at 7.14% amid rising oil prices
Indian government bond yields just hit their highest point in six weeks, mostly because oil prices are climbing and global markets are feeling shaky.
The main 2035 bond yield is now at 7.14%, close to a two-year record, showing investors are getting wary as energy costs and world tensions rise.
India trade deficit widens to $28bn
The U.S.-Iran conflict has pushed Brent crude oil over $110 a barrel, making things pricier everywhere and causing US Treasury yields to jump too.
That's led foreign investors to pull money out of India, which sent the rupee to an all-time low and widened India's trade deficit from $21 billion in March to $28 billion in April, mainly due to costlier oil imports.
Economists say if energy prices stay high, India could face more inflation headaches ahead.