India 10-year yield hits Dec 2023 peak as US debt rout, oil spike hurt

India's benchmark 10-year bond yield climbed 4.5 bps to 7.2869%, the highest close in nearly three years, after breaching the key 7.25% level and triggering stop-loss selling. Crude oil surged 5% to above $105/barrel on Middle East supply disruption fears, while the US 10-year Treasury yield rose 6 bps to 5.34%. The RBI raised its policy rate by 25 bps to 5.50% with a calibrated tightening stance, and Standard Chartered now expects the benchmark Indian 10-year yield to peak at 7.40% by Q3 FY27.