Higher sovereign bond yields drive up overall borrowing costs in the economy as government securities are the benchmarks used by corporate entities to determine the pricing of their debt issuances.
Indian government bond yields rose on Friday, with the benchmark yield posting its first quarterly rise in more than a year on the back of a relentless spike in oil prices and U.S. yields..
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Indian shares opened lower on Wednesday, reflecting weak global cues on uncertainty about the Fed's rate path and worries over a possible U.S. government shutdown.