The US 10-year Treasury bond has risen half a percentage point since the beginning of the West Asia war. Currently, its yield is hovering around 4.6 per cent. The Indian 10-year government bond yield is around 7.1 per cent, which is nearly 250 basis points more than that of the US. On paper, Indian bonds offer better returns. The extra yield is about 2.5 percentage points. A global bond investor has a choice to make. Would an investor be attracted to the extra 2.5 percentage points of yield? Let's find out. [...]