India · constrained companion
India government rates
Free data gives a 10-year benchmark and a short rate — not a full curve. The panels below are the honest subset; three US panels are shown as absent, each with the reason.
10Y G-Sec yield over time
India's 10-year benchmark yield, monthly. Red bands = crisis windows.
Curve slope (10Y minus short rate)
Long yield minus the short rate, over time. Below 0 = inverted.
Percentage points (10Y G-Sec − short rate). India inversions are rare and carry little recession content — see Explain.
Policy rate (administered)
RBI repo rate — set by the central bank, not a traded market price
Stocks vs yields (correlation)
24-month rolling correlation: monthly 10Y change vs Nifty 50 return
Correlation runs −1 to +1 (0 = no relationship), split by regime.
Full yield curve
India's free data gives only a 10-year benchmark and a short rate. A full multi-tenor curve (and the CCIL curve) is paid, so there is no curve-shape classification or PCA here.
Real yield / breakeven
India has no liquid inflation-linked bond market comparable to US TIPS, so a real-yield and breakeven-inflation decomposition cannot be derived from free data.
Official recession shading
There is no Indian equivalent of the NBER's official recession dates. The crisis windows shown (Taper Tantrum 2013, COVID 2020) are hard-coded constants, not an official series.
Crisis behaviour
With no free curve, India can't show a curve reshape like the US. Instead these zoom into each crisis window to show the 10Y level trajectory — the honest degraded view. Only the 2013 and 2020 episodes appear: the 2008 GFC shown on the US page is absent here because Indian G-Sec data in this app starts around 2011 — a direct instance of the data-availability asymmetry, not an oversight.
Taper Tantrum (2013)
India 10Y G-Sec yield, 2013-05-01 → 2013-09-30
No curve-shift view is possible — India has no free full curve.
COVID shock (2020)
India 10Y G-Sec yield, 2020-02-01 → 2020-04-30
No curve-shift view is possible — India has no free full curve.