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Market move▼ Bearish for Indian equities
Indian 10-year bond yield hits a four-month high ahead of ₹34,000 crore auction
The brief
- The benchmark 10-year yield surged to a four-month peak
- The government is set to sell ₹34,000 crore of the 10-year note
- Rising yields can pressure bank bond portfolios and valuations of rate-sensitive Indian stocks
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Rising US Treasury yields and market pressure
US Treasury yields climbed amid sticky inflation, heavy bond issuance and strong economic activity, with the 30-year yield topping 5.53% and the 10-year reaching a 19-year high. Reports warned of pressure on US stocks and investor confidence and capital inflows in India; the Sensex earnings yield minus the US 10-year yield turned negative, its lowest in 14 months.
Friday, 25 September
- Indian 10-year bond yield hits a four-month high ahead of ₹34,000 crore auction