The yield on India’s 10-year G-Sec fell to around 7.1%, retreating from multi-month highs as softer US Treasury yields and easing oil prices reduced pressure on global bonds ahead of the Federal Reserve’s policy decision. The benchmark yield had climbed to 7.07% on Tuesday, its highest in four months, amid surging crude prices and elevated US yields that fueled inflation concerns and expectations of tighter monetary policy. The US 10-year yield eased after briefly topping 5% in the previous session, while Brent crude pulled back following an unexpected rise in US inventories. The softer global backdrop offered some relief to Indian debt, although gains were limited by the RBI’s planned INR 1 trillion OMO sales and expectations of an October rate hike amid higher inflation. Investors also remained cautious ahead of the Fed’s updated economic projections and rate outlook.