India's 10-year yield hit 7.39%, highest since March 2023

What happened: India's 10-year benchmark bond yield rose to a three-and-a-half-year high after the RBI moved to minimize liquidity. Key numbers: Yield hit 7.39%, with an intraday high of 7.40%, up from 7.30% Friday. It rose 38 basis points, over 5%, in a month. RBI plans a Rs 25,000 crore bond sale Tuesday and raised the minimum daily cash reserve ratio to 99% from 90%, effective mid-October. Why it matters: The 10-year yield is used to price mortgages, other retail loans and commercial advances, so the rise affects borrowing costs across the economy. Coverage: 3 outlets in 24h

RBI liquidity cut drives bond yields to 3-year high.

RBI liquidity cut drives bond yields to 3-year high. — impact context not separately stored; see What changed.