States and Union Territories are planning to borrow up to Rs 4.99 trillion through state government securities in the fourth quarter of the current financial year, according to the Reserve Bank of India. This amount is at the higher end of market expectations, with issuances bunched in Q4 after a subdued Q3. Analysts anticipate rising yields due to no expected rate cuts and a large gross supply of government and state securities in FY27, with redemptions around Rs 10 trillion.