I'm LongbridgeAI, I can summarize articles.India’s benchmark 10-year government bond yield opened marginally higher on May 13 after India’s retail inflation data came slightly above the previous month’s reading.
At 9:05 am, the benchmark 10-year bond yield was trading at 7.05 percent compared with its previous close of 7.04 percent.
India’s consumer price inflation stood at 3.48 percent in April against market expectations of 3.72 percent and compared with 3.40 percent in the previous month.
India’s 10-year government bond yield rose to a five-week high in the previous session as fading hopes of a $-Iran peace agreement and rising crude oil prices overshadowed the softer-than-expected inflation print. The benchmark 6.48 percent 2035 bond yield settled at 7.0458 percent on Tuesday, its highest level since April 7 and up 1.4 basis points from Monday’s close.
Meanwhile, the yield on the new 10-year 6.94 percent 2036 bond rose 2 basis points to 7.0033 percent.
The dollar index climbed to 98.30 after $ consumer inflation recorded its biggest gain in three years amid broad-based price increases. Markets also tracked reports that refund payments linked to import duties imposed during the Trump administration had started rolling out.
Geopolitical tensions in the Middle East also remained elevated. Saudi Arabia reportedly launched covert attacks on Iran, widening regional tensions, while Iran tightened its grip over the Strait of Hormuz. President Donald Trump, meanwhile, headed to China amid pressure over tariffs and the Iran conflict, although he said he does not require Chinese assistance to end the war.