10-year bond yields at decade-plus low; rupee falls as oil prices crash

The rupee crossed 74 to a dollar and 10-year bond yields fell below 6 per cent — the first time since March 3, 2009 — even as crude oil prices crashed 30 per cent overnight, taking down global markets with it.
 
The Sensex fell nearly 2,000 points, as foreign investors liquidated their investments for safe haven assets such as US bonds. As prices of bonds rise, yields fall.  The Indian bond yields fell too, in line with other emerging market (EM) bonds. The 10-year bond yield fell 12 basis points (bps) to 6.065 per cent, from its previous close