India 10-year bond yield tests key level amid weaker rupee, hawkish Fed

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Indian government bonds experienced a decline in early trading. This was influenced by a weakening rupee and cautious remarks from the U.S. Federal Reserve. The benchmark 10-year bond yield faced pressure. The rupee hit a six-month low. Investors are also watching for a debt sale by New Delhi. Shorter duration overnight index swap rates saw mild receiving.