The rise in the benchmark 6.94% 2036 bond yield to 7.1708% by noon today, its highest intraday level since May 2024, is also due to global factors.
The US Treasury yield hit a nearly two-decade high of 5.21%, while Brent crude oil prices surged by 2.7% to $107.15 per barrel.
These developments are expected to keep longer-dated bonds under pressure and narrow spreads with shorter maturities in the Indian bond market.
