Bond yields traded lower on Thursday as investors got support with Finance Minister Arun Jaitley’s statement that it is important for India to emerge out of the crisis stronger as it is on a much higher and stabler footing than other nations and also added that lower prices of oil and metal commodities substantially suit the country.
In the global markets, U.S. Treasury yields ended higher on Wednesday as oil prices and stocks gained, after earlier falling to one-year lows on data that showed slowing growth in the U.S. service sector, adding to concerns about the weakening U.S economy. Furthermore, Crude oil futures extended gains from the previous session, as a weaker dollar and unconfirmed talk of producers potentially meeting to discuss output cuts lifted the market despite record U.S. stocks.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 7.84% from its previous close at 7.85% on Wednesday.
The benchmark five-year interest rates were trading flat from its previous close at 7.66% on Wednesday.