The yields on India’s 10-year G-Sec rose to 6.7%, extending gains for the third consecutive session as escalating geopolitical tensions spurred investor caution. The surge in oil to a 19-month peak, fueled by intensified US-Israeli strikes on Iran and retaliatory attacks on energy infrastructure and shipping in the Strait of Hormuz, added pressure on the market. Higher crude costs and a weaker rupee are expected to push inflation up and widen the current account deficit, keeping yields elevated ahead of Friday’s final central government debt auction. Traders noted that intervention from the Reserve Bank of India in the secondary market could temper further upward moves, while overnight index swap rates are likely to track rising US yields and global oil prices. Investors also noted strong services sector growth, with the HSBC India Services PMI revised to 58.1 and the Composite PMI rising to 58.9, the fastest since November, reflecting resilient demand despite external pressures.

The yield on India 10Y Bond Yield rose to 6.72% on March 4, 2026, marking a 0.04 percentage points increase from the previous session. Over the past month, the yield has edged up by 0.05 points, though it remains 0.06 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the India 10-Year Government Bond Yield reached an all time high of 14.76 in April of 1996. India 10-Year Government Bond Yield - data, forecasts, historical chart - was last updated on March 4 of 2026.

The yield on India 10Y Bond Yield rose to 6.72% on March 4, 2026, marking a 0.04 percentage points increase from the previous session. Over the past month, the yield has edged up by 0.05 points, though it remains 0.06 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. The India 10-Year Government Bond Yield is expected to trade at 6.69 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 6.56 in 12 months time.



Bonds Yield Day Month Year Date
India 10Y 6.72 0.042% 0.016% -0.073% Mar/04
India 52W 5.64 0.050% -0.018% -0.935% Mar/04
India 2Y 5.81 0.115% 0.037% -0.726% Mar/04
India 30Y 7.43 0.069% 0.061% 0.306% Mar/04
India 3M 5.34 0.050% 0.030% -1.110% Mar/04
India 3Y 5.95 0.086% -0.107% -0.625% Mar/04
India 5Y 6.36 -0.032% -0.095% -0.256% Mar/04
India 6M 5.44 0.018% -0.096% -1.126% Mar/04
India 7Y 6.64 0.036% -0.002% -0.099% Mar/04



Related Last Previous Unit Reference
India Inflation Rate 2.75 1.33 percent Jan 2026
India Interest Rate 5.25 5.25 percent Feb 2026
India Unemployment Rate 5.00 4.80 percent Jan 2026

India 10-Year Government Bond Yield
Generally, a government bond is issued by a national government and is denominated in the country`s own currency. Bonds issued by national governments in foreign currencies are normally referred to as sovereign bonds. The yield required by investors to loan funds to governments reflects inflation expectations and the likelihood that the debt will be repaid.
Actual Previous Highest Lowest Dates Unit Frequency
6.72 6.68 14.76 4.96 1994 - 2026 percent Daily

News Stream
India 10Y Yield Extend Gains
The yields on India’s 10-year G-Sec rose to 6.7%, extending gains for the third consecutive session as escalating geopolitical tensions spurred investor caution. The surge in oil to a 19-month peak, fueled by intensified US-Israeli strikes on Iran and retaliatory attacks on energy infrastructure and shipping in the Strait of Hormuz, added pressure on the market. Higher crude costs and a weaker rupee are expected to push inflation up and widen the current account deficit, keeping yields elevated ahead of Friday’s final central government debt auction. Traders noted that intervention from the Reserve Bank of India in the secondary market could temper further upward moves, while overnight index swap rates are likely to track rising US yields and global oil prices. Investors also noted strong services sector growth, with the HSBC India Services PMI revised to 58.1 and the Composite PMI rising to 58.9, the fastest since November, reflecting resilient demand despite external pressures.
2026-03-04
India 10Y Yield Rises Amid Middle East Tensions
The yields on India’s 10-year G-Sec rose to 6.7%, marking a one-week high, as global geopolitical tensions weighed on investor sentiment. Markets reacted sharply after joint US-Israeli strikes in Iran reportedly killed Supreme Leader Ayatollah Ali Khamenei, prompting concerns about retaliatory action and broader instability. The uptick in yields has also been influenced by offshore activity in non-deliverable overnight index swaps. Last week, the most liquid one-year, two-year, and five-year swaps saw strong receiving interest. Meanwhile, investors digested a positive domestic signal as India’s Manufacturing PMI climbed to 56.9 in February, up from 55.4 in January and marking a four-month high, reflecting a notable improvement in operating conditions and underlying business activity. Markets were closed on March 3, 2026, for the Holi holiday, with trading set to resume on March 4.
2026-03-02
India 10Y Yield Rises Ahead of Fiscal Auction
The yield on India’s 10-year G-Sec rose to around 6.7%, reversing earlier losses, as the market awaited upcoming debt issuance. Attention now turns to supply dynamics, with New Delhi scheduled to sell INR 320 billion of the benchmark 2035 bond on Friday, the final auction of the note for the current fiscal year. The level of demand and the cut-off yield at the auction are expected to set the tone for bond market direction in March. The rise in yields, however, was limited by broader market sentiment, supported by sustained interest in longer-dated securities. Ultra-long bonds, particularly the 30-year and 40-year papers, have seen continued buying from long-term investors, including insurance companies, amid increased inflows in recent weeks. So far this financial year, yields on 30-year and 40-year securities have risen by roughly 45 basis points, compared with a more modest 10-basis-point increase in the 10-year benchmark.
2026-02-26