10-Year Bond Yield Surges Past 7.20%, Reaching a 2.5-Year High Amidst Market Concerns

Economic Times Markets · stocks

The 10-year benchmark bond yield has surpassed the 7.20% mark, closing at 7.21% and marking its highest level in two and a half years. This surge is attributed to elevated crude oil prices and anticipation of a potential interest rate hike by the central bank next week. The domestic bond market is also influenced by rising yields in the US. Traders anticipate further increases, potentially reaching 7.50%, driven by upcoming central and state government debt sales and ongoing market volatility.