
Indian government bonds were expected to open firmer on November 2 as Brent retreated from six-month highs to around $111 amid Iran-Qatar talks. The 10-year yield had risen more than 70 basis points over the previous 10 weeks.
Lower oil eases inflation and rate-hike worries in India, which supports the rupee and eases import costs for feed buyers. Traders are awaiting US midterm elections, which could shift the course of the US-Iran conflict and oil prices.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.