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Indian government bonds drop on US Treasury selloff, rupee slides

Indian government bonds edged lower early Wednesday as ​rising US Treasury yields dimmed the appeal of emerging-market ‌debt and spurred outflows, weighing on the rupee. The ​benchmark 6.48 per cent 2035 bond yield was ⁠up 1 basis point at 7.1205 per cent by 10:45 am IST. Bond yields move inversely to prices. The 30-year US Treasury yield ‌hit a 19-year high on Tuesday amid a global long-bond selloff, while the 10-year ‌yield touched a 16-month high of 4.6690 per cent.  [...]