Indian government bonds were hemmed in a tight range on Wednesday, as support from softer U.S. Treasury yields clashed with surging oil prices. The benchmark 6.94% 2036 bond yielded 6.8170% at 12:30 p.m. IST, versus 6.8269% at Tuesday's close. The yield had risen 7 basis points over the previous two sessions before pausing on Wednesday.
Brent crude futures climbed 0.6% to $91.60 a barrel in Asian trade, extending gains into a fourth day after U.S. President Donald Trump said no talks with Iran were under way and Iran said the Strait of Hormuz remained blocked.
