The 10-year yield closed at 7.44%, a three-and-a-half year high, versus its previous close of 7.39%, CCIL data showed.
Yields on the 10-year benchmark bond have increased due to high oil prices. The Reserve Bank of India rejected all bids at the treasury bill auction conducted recently. The government aimed to raise ₹23,000 crores through treasury bill sales but faced significantly higher yield bids. Market analysts indicate a potential 50 basis point hike by the RBI in December.
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