India's 10-year yield eases near 7% mark as RBI remains in focus

India's 10-year government bond yield saw a mixed movement today, edging up initially before giving up after a sharp fall in last session as traders remained cautious ahead of the Reserve Bank of India's (RBI) monetary policy decision due this week. Elevated crude oil prices also dominated sentiments. The benchmark government bond yield in India fell by 9 basis points yesterday after the US and Iran weighed a framework proposal to end their five-week conflict. This pulled crude oil lower and the yield closed at 7.04%. It moved up to 7.07% in early moves but flipped back the direction and resumed a downward trend to currently quote around 7.02% mark.