India’s benchmark bond yield eased Monday as Brent crude retreated, with Reuters also citing firmer U.S. Treasuries, while official data show foreign investors net sold ₹10,918 crore through Oct. 15.
At 1:10 a.m. ET (05:10 UTC), matching Reuters’ 10:40 a.m. IST snapshot, the yield on India’s 6.94% government bond due in 2036 was 7.4640%, down one basis point, Reuters reported. The Clearing Corporation of India Limited (CCIL) listed an indicative yield of 7.4713% for Friday, Oct. 23, consistent with the rounded change.
Brent fell 2.14% to $114 a barrel during Asian trading, Reuters reported, after gaining 6.2% the previous week. Reuters also said gains in U.S. Treasuries supported Indian bonds.
Reuters said benchmark yields had risen each week for 10 weeks, the longest such sequence since 1998. Traders cited by the outlet said markets reflected expectations of more than 100 basis points of Reserve Bank of India (RBI) tightening over the coming year.
National Securities Depository Ltd. (NSDL) data show net selling of ₹10,918 crore (₹109.18 billion) under Debt-FAR from Aug. 1 through Oct. 15. The tally combines a ₹972 crore net inflow in the first half of August with outflows during the rest of August, September and the first half of October. The RBI introduced the Fully Accessible Route (FAR), which removes investment caps for nonresident investors purchasing government securities it designates.
The Petroleum Planning & Analysis Cell (PPAC) put India’s crude-oil import dependency at 88.2% of petroleum-products consumption in fiscal 2024-25. That dependence provides context for oil’s place in inflation concerns; Reuters said investors were weighing inflation and the RBI’s rate outlook.
The Federal Reserve calendar schedules the Federal Open Market Committee’s meeting for Oct. 27-28, with a news conference on Oct. 28. Reuters reported that investors widely expected the Fed to hold rates at the meeting.
