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Market move▼ Bearish for Bank of India
India bonds slide for sixth week as global rout deepens
The brief
- Indian government bonds have struggled amid rising global borrowing rates and soaring oil prices
- Higher yields can pressure Indian banks, including Bank of India, and raise government borrowing costs
- Nifty PSU Bank tanks 2%, stocks dip up to 4%; Analysts flag rate hike woes
- 7 aggressive hybrid funds delivered 12%+ 5-year SIP returns; Bank of India led with 16.5%
- Bank strike from September 28: SBI, Bank of India urge customers to complete key transactions in advance
- SBI and other PSU banks waive ATM charges during September 28–30 strike
Rising US Treasury yields and market pressure
US Treasury yields climbed to multiyear highs, with the 30-year yield above 5.53% and the 10-year at a 19-year high. Reports cited sticky inflation, heavy bond issuance and rising oil prices, while warning of pressure on US and Indian stocks, valuations and capital inflows.
Friday, 25 September
- India bonds slide for sixth week as global rout deepens