10-year bond yield eases 10 bps to 7.31% in sharpest fall since April
The 10-year bond yield experienced a notable decline to 7.31% following a decrease in oil prices. This decline represented the steepest drop observed since early April of this year. Oil prices fell nearly 5%, retreating from a six-month peak that occurred last week. Traders are currently holding back on taking fresh positions as they await the US midterm elections.
Mumbai: The benchmark 10-year bond yield fell nearly 10 basis points to 7.31%, marking its steepest one-day decline since early April, as a sharp decline in oil prices spurred demand for the paper. It had previously closed at 7.40%.Yield on the bond opened at 7.40% Monday and consistently declined over the day in tandem with the decline in oil prices. Traders however are refraining from aggressively taking fresh positions ahead of the US midterm elections on Tuesday.Read more: Explained: Why gold investors should tone down expectations as yellow metal plunges to a 1-year lowBrent crude futures fell nearly 5% to $108 per barrel in Asian trade, retreating from a six-month peak, reached last week.Read more: Diwali 2026: 77 stocks knock down D-St bears to deliver multibagger returns of up to 4,700% in a year With crude prices easing and the rupee strengthening, market is finding some footing.
