10-year G-Sec touches 7.5% ahead of RBI's monetary policy review

The yield on the 10-year government securities (G-Sec) touched 7.5 per cent on Monday, hitting a three-year high ahead of the Reserve Bank of India’s (RBI’s) monetary policy review scheduled for Wednesday.

The yield jumped 4 basis points (bps) on Monday after Saudi Arabia – the world’s biggest oil exporter – raised prices for Asian buyers. The yield on the 10-year G-Sec, which closed at 7.50 per cent on Monday, was at its highest since January 11, 2019, when it touched 7.59 per cent.

This came even as Brent crude oil prices touched $120 a barrel, leading to fresh concerns