Indian government bonds slip as oil tops $96, yields climb
Business
Indian government bonds slipped on Thursday after global oil prices surged past $96 a barrel and US Treasury yields went up.
The benchmark 2036 bond yield ticked higher, reflecting growing unease in the market as tensions in the Middle East pushed energy costs to a six-week high.
Oil surge risks India's rupee, inflation
Rising oil prices are especially tough for India, which imports about 90% of its crude.
Traders worry this could weaken the rupee and push up inflation, making everyday goods more expensive.
Ongoing conflicts, like US airstrikes on Iran and attacks on oil tankers, are fueling concerns about supply disruptions.
With these pressures mounting, key interest rates have also edged up, signaling more challenges ahead for the economy.