New Delhi, Sept. 21 -- The US Federal Reserve delivered a 25-basis-point rate hike on 16 September. The US 10-year Treasury yield touched about 5.02% that day-its highest in at least a year. The yield eased to about 4.93% the next day but climbed back to almost 5% by 18 September. A year ago, the yield hovered at about 4.09%, meaning it has risen close to 90 basis points since then.

Back home, the benchmark 10-year government security (G-Sec) yield crossed the 7% mark, quoting at 7.05-7.07% as of 18 September, up from roughly 6.81% in mid-August and about 6.47% a year ago. The pressure is a mix of rising US yields, higher crude oil prices and a domestic market that anticipates that the Reserve Bank of India (RBI) will also start increasi...