New Delhi, Dec. 19 -- The bearish cycle in India's bond market is likely to continue through the rest of FY26, with the benchmark 10-year government bond yield expected to hover in the 6.55-6.70 per cent range, according to a report by Emkay Research.

The report noted that Indian bonds remain stuck in what it described as a "perpetual bear-steepening" phase, reflecting pressures similar to those seen in developed markets.

It stated "We believe bond bearishness, driven by a mix of structural, cyclical, and one-off factors--is likely to persist through rest of FY26, with the 10Y yield hovering in the 6.55-6.70 per cent range".

While macroeconomic conditions vary across economies, the report highlighted a common theme of policy-related ch...