10-year bond yield breaches 7.20%; hits 2.5-year high
India's 10-year benchmark bond yield closed at 7.21% on Thursday, breaching the 7.20% mark for the first time in 2.5 years. Analysts anticipate yields could rise to 7.50% due to high crude oil prices and a likely 25 basis point rate hike by the Reserve Bank of India next week. The bond market will remain closed on Friday for Gandhi Jayanti.