A weakening rupee and surging crude oil prices have sparked fears of another rate hike by the Reserve Bank of India
Mumbai: The yield on 10-year government bonds today closed above 8% mark for first time since December 2014, as a weakening rupee and surging crude oil prices sparked fears of rate hike by the Reserve Bank of India (RBI). Bond yield gained for seventh consecutive session to hit over four-year high. The 10-year bond yield ended at 8.063%—a level last seen on 1 December 2014, from its previous close of 7.999%. Bond yields and prices move in opposite directions.