India bonds log worst week in FY27 on RBI surprise U-turns
Indian government bonds encountered significant challenges this week, marking the worst week of the financial year. The Reserve Bank of India's hawkish policy minutes triggered a selloff, compounded by the early closure of a diaspora-deposit hedging facility. Additionally, soaring crude oil prices heightened inflation concerns and rate hike fears in India, culminating in a notable increase in bond yields.
The Indian bond market experienced notable losses on Friday, with government bond yields climbing to a two-month peak. As investors anticipate key policy hints from Federal Reserve Chair Kevin Warsh during his Jackson Hole address, the hawkish tone in the latest RBI minutes has intensified expectations for future monetary policy adjustments. This escalation in yields has enhanced the attractiveness of Indian bonds compared to U.S.
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