Domestic bond yields could spike as much as 45 basis points to around 7.50% as elevated crude prices, rising inflation expectations, and the rising cost of global debt weigh on sentiment, bond traders said. Reserve Bank of India's (RBI) open market operation (OMO) sales could add to the pressure by increasing government bond supply as the central bank drains surplus liquidity. The benchmark 10-year yield closed at 7.05% on Wednesday, from its previous close of 7.07%.