The 10-year government security yield is currently at around 7.43%, while the spread between Indian and US 10-year government bond yields is hovering at around 2.50%. SBI Research said past data since 2019 indicate that a spread of 2-3% is the most likely scenario. Indian government bond yields could ease to 6.75-7% by March 2027 even if the Reserve Bank of India increases the benchmark interest rate by 0.