29.04.202607:20:12UTC+00India 10Y Yield Steady Ahead of Fed Decision

The yield on India’s 10-year G-Sec hovered around 6.9%, stabilizing after briefly touching a three-week high, as investors stayed cautious ahead of the US Federal Reserve’s policy decision and continued to monitor elevated crude prices amid ongoing geopolitical tensions. Market activity remained muted, with participants largely on the sidelines amid growing expectations that the Fed would keep rates unchanged in what is likely Jerome Powell’s final meeting as Chair, reinforcing a wait-and-watch stance across global bond markets. Domestic debt sentiment was further pressured by persistently high oil prices, which held above $111 a barrel as supply risks in the Middle East remained elevated. Additionally, traders refrained from taking large positions ahead of an INR 290 billion government bond auction scheduled later in the week, contributing to the lack of clear direction and keeping yields confined to a narrow trading range.