Economic Survey: Bond yields jump on CEA's monetary easing comment

Yield on the 10-year bond jumped 13 basis points after Chief Economic Adviser (CEA) Arvind Subramanian said the scope for monetary easing was limited, considering rising inflation. The yield closed at 7.44 per cent on Monday.
 
Local bonds were also under pressure as the US 10-year treasury yield rose to a multi-year high in European trades. The 10-year yield rose to 2.7 per cent, its highest level since early 2014, while the two-year treasury yield rose to 2.14 per cent, its highest since 2008, Reuters reported.