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2026-02-17 11:28:04
US Treasury yields plunge, widening the spread with Indian government bonds to a four-month high. Over the past week, the yield on 10-year US Treasury bonds fell more than 20 basis points to 4.03%, while the yield on Indian government bonds maturing in 2035 with a coupon rate of 6.48% fell by about 6 basis points to 6.6642%, widening the spread to 263 basis points, a significant increase from 238 basis points a month ago. A trader at a primary dealer said that US yields are expected to fall below 4%, and the spread could widen further, but the yield on 10-year Indian government bonds will face strong selling pressure in the 6.62% to 6.63% range. Weaker-than-expected US inflation data and rising market expectations for a Federal Reserve rate cut have driven down US Treasury yields, while the Indian bond market continues to face supply pressure.
