The yield on India’s 10-year G-Sec rose to around 6.91%, reaching more than two-month highs as heavy bond supply and renewed rate hike expectations pushed yields higher. The benchmark 6.94% 2036 yield rose nearly 2 basis points, its highest intraday level since June 18, ahead of an INR 340 billion ($3.56 billion) sale of the benchmark note. Meanwhile, hawkish minutes from the Reserve Bank of India’s August meeting revived expectations of a possible rate hike later this year, adding upward pressure on yields, while investors awaited Federal Reserve Chair Kevin Warsh’s Jackson Hole speech for further clues on the US interest-rate outlook. Easing Brent crude prices, which fell 5% after renewed focus on reopening the Strait of Hormuz, offered some relief by tempering inflation concerns and helping limit the rise in yields.