Oil surge drives 4th straight loss in Indian government bonds
Business
Indian government bonds just wrapped up their fourth straight month of losses, mainly because global oil prices shot up again in October.
The benchmark 6.94% 2036 bond yield rose to 7.4139%, reflecting how expensive energy is shaking up India's economy and making things tougher for the bond market.
RBI raises policy rate
With oil prices jumping nearly 14% this month, foreign investors have pulled back from Indian bonds, putting extra pressure on the rupee.
The Reserve Bank of India (RBI) also raised its policy rate for the first time in almost four years to help keep things steady.
Still, Indian bonds are holding some appeal thanks to steady US interest rates, though experts warn that global tensions could keep things bumpy ahead.