New Delhi, April 13 -- The Indian government bond prices declined, while yields spiked on Monday after the failed US-Iran ceasefire talks drove up crude oil prices, raising fears of sustained high inflation.

India's benchmark 6.48% 2035 bond yield rose 6 basis points to 6.9697% from 6.9119% on Friday. Yields move inversely to bond prices.

The risk-off sentiment was evident across both currency and equity markets. The Indian rupee depreciated by 0.7% to 93.38 against the US dollar, while benchmark indices - the Sensex and Nifty 50 - declined nearly 2% each.

The market sell-off reflected growing concern that elevated crude oil prices could complicate India's inflation trajectory and growth outlook.

"As expected, the 10-year benchmark yi...