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2026-11-02 18:50:25
[Oil Price Decline Drives Up Indian Government Bonds, Traders Position for Further Gains] ⑴ A sharp drop in oil prices pushed the yield on Indian 10-year government bonds below the key level of 7.35%, triggering a new round of buying as traders position for further gains in the bond market. ⑵ A trader at a state-owned bank said that if the 10-year yield closes below 7.33%, it could pave the way for a decline to 7.25%. ⑶ The benchmark 6.94% coupon yield on 2036 government bonds fell nearly 9 basis points to 7.3281%, on track for its biggest one-day drop since early May. ⑷ Brent crude fell nearly 4% to $108 a barrel, a near two-week low, easing concerns about inflation and interest rate hikes. ⑸ Another fixed-income trader said that regardless of the outcome of the US midterm elections, the market remains hopeful for a peace agreement, driving a recovery in risk appetite. ⑹ Traders said that long-term investors are particularly keen to lock in the current higher yields.
