A sell-off in sovereign debt pushed government bond yields across major economies to multiyear and, in some cases, multi-decade highs in the past month, as investors demanded higher returns to compensate for elevated government borrowing, sticky inflation and uncertainty over the interest-rate outlook. The US 10-year Treasury yield was at its highest since 2002, while Japanese government bond yields touched levels last seen in 1996. The repricing reverberated across global fixed-income markets. India has not been immune, with the benchmark 10-year bond yield climbing to a four-year high of 7.50% in October before easing, to close around 7.24% on Thursday.