India's 10-year yield tops 7% as oil breaches $110
India's 10-year government bond yield just crossed the 7% mark, a level it hasn't touched since July 2024.
This jump is mostly thanks to oil prices shooting past $110 a barrel after U.S.-Iran peace talks stalled.
Experts say this could keep the pressure on India's bond market, especially with global uncertainties and supply issues at home.
Dipanwita Mazumdar expects yields near 7%
Dipanwita Mazumdar from Bank of Baroda thinks the yield will likely stay between 6.9% and 7.1% unless things calm down globally.
Yields have been climbing from about 6.4% last April, driven by rising oil costs and inflation worries.
Still, India's stock market kicked off strong; Nifty crossed 24,100 points and Sensex jumped over 320 points, showing investors aren't losing their cool just yet (except in metals).