India bond yields hold steady as 10 year sale looms and oil risk stirs traders

A fragile US Iran ceasefire could still jolt oil yields

Indian government bonds held steady as traders digested a heavy supply event: a large sale of the benchmark 10-year note. Attention then shifted to the auction results, with expectations that yields could rise. At the same time, easing liquidity dragged overnight index swap rates lower, while concerns over high oil prices tied to a fragile US-Iran ceasefire kept risk sentiment cautious.