A selloff in Indian government bonds deepened on Thursday, as a surge in global yields and rising inflationary pressures cemented expectations of a rate hike by the central bank next week.
Local bonds tracked a rise in global yields, including the 10-year US Treasury yield briefly topping a 24-year peak. It was last at 5.30%, bringing the spread between it and the Indian benchmark to the tightest in more than a year.
