Bond yields spike amid bets of interest rates staying higher for longer; how will it impact Indian stock markets?
The benchmark US 10-year bond yield scaled fresh 16-year highs. The yield on the 10-year note was hovering around 4.85% in Asian hours, its highest level since August 2007. The 30-year yields touched 5% for the first time since 2007.
The Indian stock market indices, Sensex and Nifty 50, dropped nearly a percent on Wednesday tracking weak global cues amid surging US Treasury yields and a spike in dollar.
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