In this edition of Bond Compass, we highlight the key themes for July/early Aug 10Y IGB yields remained volatile, initially benefiting from lower crude and optimism around Bloomberg Global Aggregate inclusion, but later hardened tracking higher crude and UST yields. Bloomberg deferred India’s inclusion in the Global Aggregate Index, contrary to market expectations. The 10Y IGB ended the month at 6.83%, around 5 bps higher MoM.
