Indian government bonds are expected to weaken further after RBI policy minutes showed rate-setters may need more hikes to curb inflation. The benchmark 2036 bond yield of 6.94% may trade between 7.40% and 7.47%, after closing at 7.4427% in the previous session. The RBI raised its repo rate 25 basis points to 5.50% earlier this month, its first hike in nearly four years, and shifted to 'calibrated tightening'; markets now price in just over 100 bps of hikes in the next 12 months. Oil above $110 per barrel and a deficient monsoon have pushed food prices up, and Yes Bank analysts see a further 50 bps of hikes in December and February. Overnight swap rates are expected to climb with bond yields, with the 1-year OIS at 6.59%.
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VNINDEX
• NeutralRelevance: low
| Market | Vietnam stocks |
|---|---|
| Close on 10/21/2026 | 1,738.67 |
| Change that session | +2.76% |
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