The 10-year bond yield closed at 7.05%, a level last seen on 8 September 2016, compared to its previous close of 6.972%. Consumer inflation rose 3.58% in October from a year ago, up from 3.28% in September. Also, the increased probability of a hike in interest rates by the US Federal Reserve during its December meeting may add to the negative sentiment around emerging markets debt. The selling in the debt markets has also hit the rupee, which has fallen since the beginning of November and is down over 1%. The rupee opened at 65.36 a dollar and touched a low of 65.54, a level last seen on 3 October.

Source: Mint November 14, 2017 04:06 UTC