India bonds track Treasury gains; monsoon, foreign inflow lend support

The benchmark 10-year Indian government bond yield slipped to 6.6983%, falling below its 200-day moving average of 6.70%, tracking gains in U.S. Treasuries ahead of the Federal Reserve's policy meeting minutes. Improved monsoon forecasts narrowing the rainfall deficit and sustained foreign inflows of over 346 billion rupees since June 1 supported demand. Easing oil prices after OPEC+ agreed to raise output targets and better-than-expected Friday auction cutoffs of 6.7275% added to downward pressure on yields.