Bond yields traded higher on Wednesday as investors remained cautious on report that India’s merchandise exports extending its decline for the sixteen months in row, contracted by 5.47 percent to $22718.69 million in the month of March, as shipments of petroleum and engineering products shrunk sharply due to tepid global demand.
In the global market, Crude oil prices retreated early Wednesday after Kuwait oil workers called off a three-day strike, a key support that kept oil prices afloat after major global producers failed to agree to a production freeze last weekend.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.43% from its previous close at 7.41% on Monday.
The benchmark five-year interest rates were trading 3 basis points higher at 7.46% from its previous close at 7.43% on Monday.
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