Benchmark 10-year bond yield at 7.245% in early trade, up 5 bps on day

Indian government bond yields rose on Wednesday, tracking a spike in U.S. Treasury yields, while traders awaited the Reserve Bank of India’s monetary policy decision due on Friday for further cues.

The 10-year bond yield was trading at 7.2404%, as of 0340 GMT, after rising to as high as 7.2526% in early trade. It had ended at 7.1962% on Tuesday.

The 10-year U.S. Treasury yield jumped 14 basis points on Tuesday to end at 2.7410%.

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