India 10-year bond gives up post-policy gains as oil moves, RBI swap pullback weigh

Indian government bonds saw a decline for the second consecutive day, erasing previous gains as high oil prices and the premature conclusion of a deposit scheme weighed on investor sentiment. Following the central bank's policy announcement, the benchmark bond yield rose sharply. Swap rates also jumped, indicating a negative shift in market mood. Future bond yields will be influenced by both global and local factors.