MUMBAI: India’s benchmark 10-year bond yield edged down on Wednesday morning after June retail inflation data came in slightly below market expectations while fears of a global recession continued to aid sentiment for safe-haven government debt.
The 10-year bond yield was at 7.36% at 0355 GMT, compared to its close of 7.39% on Tuesday. June’s retail inflation print was 7.01%, slightly below the 7.04% forecast by economists in a Reuters poll, and higher than 6.26% in the year earlier period, data post market hours on Tuesday showed.
India rupee at record low tracking weak Asian peers, shares
The benchmark US two-year/10-year yield curve on Tuesday posted the largest inversion since at least 2010, on growing fears about the world’s largest economy tipping into recession amid continued aggressive tightening by the Federal Reserve.
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