Indian government bonds plunged in opening deals on Friday, with the benchmark 10-year bond yield surpassing 7% to a more than three-month high as a double whammy of rising oil and U.S. yields sapped investor appetite.
The 10-year benchmark 6.94% 2036 bond yield hit 7.0211%, after closing at 6.9762% on Thursday.
The Brent crude contract was over $108 per barrel, while the 10-year U.S. yield was around 4.97%.