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India bonds under pressure as state debt supply swells, oil stays elevated

Indian government bonds declined in early trade on Tuesday, pressured by heavy state debt supply toward the end of the financial year and by oil prices that held well above $100 a barrel. The benchmark 6.48% 2035 bond yield was at 6.7118% as of 10 a.m. IST, after ending the ‌previous session ⁠at 6.7059%. ⁠Bond yields move inversely to prices. Indian states plan to raise 584.20 trillion rupees ($6.33 trillion) through the sale of debt on Tuesday. [...]