The spike came on the back of fears that the US Federal Reserve will keep rates higher for longer.
The bond yield, however, later cooled down to 4.9%.
Last week, US Fed chairman Jerome Powell said inflation in the US continues to be too high and bringing it down to the Fed's 2% target level will likely require a slower-growing economy and job market. His hawkish comments came against market expectations that rate hikes had reached an end.
Economists believe the adverse impact will be felt in the Indian markets. "There would be an upward pressure on Indian bond yields since the unfavourable interest rate differential would mean reduced inflows into non-US bond markets," said Abheek Barua, chief economist, HDFC Bank.
Denne historien er fra October 24, 2023-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Denne historien er fra October 24, 2023-utgaven av Financial Express Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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