Indian government bonds rise as crude falls after U.S.-Iran pause
Business
Indian government bonds got a boost on Monday after crude oil prices took a sharp dip.
The benchmark bond yield fell noticeably, and this move was sparked by a pause in U.S.-Iran strikes over the weekend, boosting hopes for less tension and smoother global trade.
Lower Brent eases India's inflation risk
Brent crude dropped 4% in Asian trading, slipping below $93 per barrel after last week's spike to $102.
For India, which imports a lot of oil, this is good news: lower prices mean less inflation risk and lighter import bills.
Traders responded quickly, unwinding aggressive positions as swap rates fell.