Indian 10-year bond yield hits 12-week low on US-Iran peace deal, crude oil price slide

The Indian 10-year benchmark bond yield fell 3.2 bps to a 12-week low of 6.8637%, supported by a US-Iran peace deal and a 4.5% drop in Brent crude to $83.40/barrel, which eased inflation and trade deficit concerns for India. The rupee strengthened to a five-week high of 94.5750/USD, while foreign investors poured over $1.6 billion into Indian bonds over the past six sessions, with FPI flows expected to continue on the back of the Bloomberg Global Aggregate Index inclusion review this month.