Indian government bonds treaded water on Wednesday as hopes of Bloomberg index inclusion offset geopolitical risks, while traders looked for fresh triggers.The benchmark 6.94% 2036 bond yield ended little changed at 6.7563%, against Tuesday's close of 6.7501%. Bond yields move inversely to prices.The market ‌started the ⁠July-September quarter ⁠cautiously, with a falling rupee, uncertainty over U.S.-Iran talks and firmer U.S. yields keeping traders on the sidelines.India bonds stuck in range as traders eye fresh triggersIndian government bonds remained stable as hopes of inclusion in the Bloomberg index balanced out geopolitical concerns and a declining rupee. Traders are on the lookout for new catalysts, with the benchmark 2036 bond yield maintaining a position close to Tuesday's close. The global investment climate stays cautious as U.S. Federal Reserve announcements loom alongside U.S.-Iran negotiations, while domestic markets focus on critical yield levels.The currency slid to a near three-week low of 95.2475 ​per dollar.Global investors turned cautious ahead of remarks from U.S. Federal Reserve chair. The U.S. 10-year Treasury yield rose nearly 6 basis points to ​4.4791% in Asian trade.Fed Chair Kevin Warsh ⁠is due ‌to take part in a question-and-answer session at ​9 a.m. ​EDT at the European Central Bank's annual forum in ⁠Sintra, Portugal.Technical talks between the United States and Iran ​were under way in Doha, Reuters reported on Wednesday. ​Brent crude futures stabilised near $72 per barrel.At home, traders are waiting for an update on India's possible inclusion in Bloomberg's Global Aggregate Index."Improved market access and the removal of taxes for foreign investment into government bonds strengthen the case for India's inclusion in the Bloomberg ‌Global Aggregate Index," Goldman Sachs wrote in a note.A private-bank trader said expectations of inclusion were already largely priced ​in, and ​that the market ⁠needs stronger triggers to break key yield levels.Traders are watching whether India's 10-year bond yield can break below its 200-day moving average. A sustained ​move lower could open room for a further rally.RATESIndia's overnight index swaps rose tracking higher U.S. yields.The one-year rate was 2.75 bps higher at 5.7875%, while the two-year rate rose 3.5 bps to 5.93%. The five-year rate gained 4.75 bps to 6.2150%.