The Reserve Bank of India’s aggressive liquidity‑draining steps and a fresh bond sale sent the 10‑year benchmark yield to its highest level in three years.
A pullback in US and Japanese yields highlights a broader consolidation in global debt markets, even as diverging policy paths squeeze key international spreads.
A dramatic day of trading saw US 10-year borrowing costs touch their highest level since 2002 before a sudden flight to safety pulled yields back down.
The Reserve Bank of India’s caveat in the Bombay High Court and a tepid market reaction leave Tata Sons’ long‑delayed IPO and Shapoorji Pallonji Group’s dollar debt restructuring in limbo.
