Indian bond yields hit a five-week high as oil prices surge, Iran, Israel tensions, and auction caution weigh on markets.

• Oil prices jumped 13% after Israel struck Iran, pushing Brent crude to $75.50 and raising inflation risks.
• India’s 300B rupee bond auction faces cautious demand, with traders monitoring technical resistance levels.
• OIS rates rose across the curve, with 5Y at 5.79%, tracking higher bond yields and oil price pressures.