Oil pain pins India bonds in range; RBI minutes to give next cue

India’s central bank wrong-footed investors by opening the door to interest-rate increases, in a striking shift that sent bond yields higher and raised fresh questions about how it communicates with the market.

Indian government bonds showed little movement on Wednesday, trading in a tight range. The increase in oil prices countered support drawn from softer U.S. Treasury yields, which affected trader sentiment. Market participants are now looking ahead to the impending policy minutes…