India Bond Yields Climb To 3-Year High Strengthening Case For RBI Rate Hike

Image
Capital Market
Last Updated : Jun 07 2022 | 12:04 PM IST

India's benchmark 10-year bond yield rose to its highest levels in three years ahead of RBI policy announcement due tomorrow. Yield on benchmark 10-year bond 6.54GS 2032 rose to 7.53%, up 4 basis points from its previous close and the highest level since March 2019. The RBI is widely expected to sharply hike the rate again tomorrow after an off-cycle 40 basis point repo rate hike last month. Meanwhile, higher global crude oil prices influencing higher inflation also hurt sentiment. Crude oil is seen at $118.78 per barrel, not far from a 14-year high of $130 hit in March, amid tight global supplies. The benchmark hit a three-month high of $121.99 on Monday, after Saudi Arabia raised prices for its crude sales in July, indicating tight global supplies even after OPEC+ agreed to accelerate its output increases over the next two months.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jun 07 2022 | 11:40 AM IST

Next Story