Garg: Bond yields to stabilise soon

Mumbai: The recent spike in government bond yields is not driven by fundamentals and will soon come back to normalcy, economic affairs secretary Subhash Chandra Garg said on Friday. Bond yields have been elevated in the past few months due to higher crude prices and external market environment. The 10- year government bond yield — 7.17% - 2028 — is trading at 7.83 per cent. “The yields today are possibly not justified on fundamentals, and therefore, as things get mature and stabilise, they will come back to normal,” Garg said.