Indian government bond yields inched higher to wrap up the week, which also witnessed the first upward move after four consecutive weeks of fall, mirroring a momentum in Treasury yields, though with a lower magnitude.
The benchmark 10-year yield ended at 7.0644%, following its previous close of 7.0401%.
The yield rose three basis points (bps) this week, after easing by an aggregate of 8 basis points in the last four weeks.
“There was some selling pressure this week tracking a rise in U.S. yields, still the movement would be very subdued, even if the 10-year yield moves towards the 4.50% mark,” said VRC Reddy, treasury head at Karur Vysya Bank.
U.S. yields jumped this week, with the 10-year yield rising as much as 25 bps for the week’s lowest point to trade around the 4.30% handle.
Yields rose after producer prices were more than estimates, which followed a higher-than-expected inflation reading earlier in the week, and led to further…
