Indian government bonds were hemmed in to a narrow range on Thursday, after a sharp selloff in the previous session, when surging oil prices and higher U.S. Treasury yields pressured local debt on signs that a U.S.-Iran interim peace deal is unraveling.
The U.S. military said on Wednesday it launched fresh strikes on Iran to keep the Strait of Hormuz open to shipping, prompting Iranian attacks on Kuwait and Bahrain, both of which host U.S. bases, denting hopes of a quick end to the war.
