India's 10-year government bond yield surged to a two-year high of 6.54 percent Thursday morning, up more than half a percent from Wednesday's close. In the past week, it has surged as much as 1.3 percent to a level last seen in January 2020. Several factors are pushing the yields higher, including Federal Reserve's meeting minutes showing a more hawkish tilt than expected. Meanwhile, states have revised their Q4 borrowing, inflation is out of control, and US yields are steadily climbing. Then there is the weekly bond sale by the RBI.