India bonds slip as profit booking, higher US yields weigh

Indian government bonds ended lower as profit booking pushed the benchmark 10-year yield up 1 basis point to 6.6958%, snapping a three-session falling streak. Caution grew due to rising US 10-year yields (2 bps higher to 4.4971%), Middle East tensions after tanker strikes in the Strait of Hormuz, and Brent crude gaining 1.3 percent to $72.92 a barrel. However, strong foreign inflows of 351 billion rupees since June 5 and improving monsoon rainfall limited the yield rise, with traders viewing 6.70 percent as a near-term ceiling.