US Iran talks collapse lifts oil, rattles India's bond market
Business
India's bond market took a hit on Monday after peace talks between the US and Iran fell apart, sending oil prices up by over 7%.
As a big oil importer, India felt the pressure: bond yields climbed and investors quickly shifted to safer bets.
Markets await India March inflation data
The rupee slipped 0.7% against the US dollar and the Nifty 50 index dropped almost 2%.
Many investors had just bought bonds hoping for good news from the talks, but quickly changed course when things went south.
Now, all eyes are on India's March inflation data coming out at 4pm today, which could set the tone for what happens next in the markets.