Bond yields were trading steady on Thursday as market awaits fresh triggers even as traders say any further spike in global oil prices may push up yields. Sentiments remained dampened after International Monetary Fund (IMF) marginally lowered said India’s growth rate from the previous 7.5 per cent to 7.3 per cent this year due to a difficult external environment.
In the global market, U.S. Treasuries prices fell on Wednesday with benchmark yields hitting their highest in a week as a recovery in global stock markets and bets on more stimulus from foreign central banks encouraged investors to move into stocks from bonds. Furthermore, Crude oil futures rose in Asian trade on Thursday, shrugging off a surprise build in U.S. inventories as some Chinese traders returned following a weeklong National Day holiday period.
Back home, the yields on new 10 year Government Stock were trading steady from its previous close of 7.54% on Wednesday.
The benchmark five-year interest rates were trading steady from its previous close of 7.66% on Wednesday.