Indian Government Bonds Steady Amid High Oil Prices and Increased State Debt Supply

Indian government bonds remained largely steady amid elevated oil prices above $100 per barrel and significant state debt supply nearing the fiscal year-end. Brent crude surged over 40% since the U.S.-Israeli conflict with Iran began, raising inflation concerns for India, a major crude importer. States raised a record amount of debt, while traders monitored Reserve Bank of India's bond purchases and liquidity operations to manage market pressures and fiscal deficit risks.