On Bond Street, falling yields spur a Rs 17,000-crore fundraise

Indian institutions raised over 17,000 crore via bond sales as the benchmark 10-year government bond yield fell 28 basis points to 6.72 percent from a peak of 7.13 percent in late May, lowering borrowing costs. Nabard raised 8,000 crore at 7.16 percent, while Aditya Birla Capital and Bajaj Finance tapped the 10-year bucket. The rebound is driven by RBI's ECB and FCNR(B) measures, softer crude prices after the US-Iran deal, and expectations of Indian debt inclusion in the Bloomberg Global Aggregate Index, with favourable conditions likely persisting until September.