Bond yields remained steady on Thursday amid lack of fresh triggers. Investors remained cautious with the main opposition Congress ahead of the Monsoon session of Parliament, stating that there is no change in its stand on the three principal demands on the Goods and Services Tax (GST) bill and it is still awaiting the government's offer on the issue.
In the global market, U.S. Treasury prices gained on Wednesday after a two-day selloff raised yields enough to lure buyers, and also helped the U.S. government sell long-dated debt to strong demand. Furthermore, Crude prices rose on Thursday after big losses in the previous session spurred by mounting concerns that the global glut in oil is not going away soon after the latest bearish data out of the United States.
Back home, the yields on new 10 year Government Stock were trading flat from its previous close at 7.28% on Wednesday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.13% from its previous close at 7.11% on Wednesday.