India bond yields eased on October 30, 2026, putting the benchmark 10-year government bond on course for its first weekly price gain in 11 weeks. The yield on the 6.94% bond maturing in 2036 traded at 7.3837%, slightly below Thursday’s level.
India bond yields reverse a 10-week climb
The benchmark yield had fallen more than 9 basis points during the week after rising more than 70 basis points over the preceding 10 weeks. That run of weekly yield increases had not been seen since at least 1998. Bond prices and yields move in opposite directions.
Investors bought after the 10-year yield twice approached, but did not cross, 7.50%. Mutual funds were the largest buyers by value, purchasing about ₹40 billion of bonds during the week through Thursday.
The Reserve Bank of India’s guide to government securities explains how a dated fixed-coupon bond’s name identifies its coupon, issuer and maturity year.
Debt sale and US elections in focus
Demand at India’s ₹330 billion debt sale will be important to sustaining the rally, a private bank trader said. Traders are also watching the November 3 US midterm elections for their potential effects on decisions about war and on oil prices.
The US Federal Reserve held interest rates steady in October. The one-year Indian overnight indexed swap rate was flat at 6.68% on Friday, while the five-year rate fell 1.25 basis points to 6.8375%.
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