India's 10-year yield falls to 7.3837% mutual funds buy 4,000cr
Business
After nearly three months of steady losses, India's 10-year government bonds are making a comeback.
The benchmark yield dropped to 7.3837% this week, while mutual funds snapped up ₹40 billion worth of bonds as yields stayed below the key 7.50% mark.
Fed pause, US midterms spur bonds
A big reason is the US Federal Reserve choosing not to hike interest rates in October, which calmed global markets.
With US midterm elections and New Delhi's 330 billion-rupee ($3.47 billion) debt sale coming up, investors are turning to safer bets like government bonds, at least as long as yields stay low.