Why are bond yields in India falling?

Ten year bond yields are down 10-15 basis points and it is largely led by the sharp fall in crude oil prices. Last week, Brent crude futures slumped 7.3%. Fears of a global slowdown led oil prices lower. Fall in crude oil prices, in the current context, is disinflation. This leads to lower demand for money and tapering of bond yields. Markets are also of the view that if the slowdown shows up, neither RBI nor the US Fed can afford to stay so hawkish. That may force a course correction including cutting rates rather than hiking rates.