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The Economic Times
The Economic Times
Business

India bonds pummelled after Treasury rout, traders raise rate hike bets

India Bonds Oil Reserve Bank of India Inflation Monetary Policy US Treasury

Indian government bonds plunged in early deals on Thursday, tracking a spike in U.S. Treasury yields and higher oil prices, which have strengthened bets that the local central bank will adopt a hawkish stance at its upcoming monetary policy meeting.

The benchmark 6.94% 2036 bond yield was at 7.0914% as of 10:15 a.m. IST, after ending at 7.0447% on Wednesday. The yield hit 7.0994%, its highest since September 15, earlier in the session. Bond yields move inversely to prices.

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