Bond yields remained unchanged on last trading session of the week, as inventors slowed purchases ahead of a weekly auction of notes, even as underlying sentiment remains bullish. India will auction 150 billion rupees of four bonds maturing in 2024 through 2044 today.
In the global market, U.S. Treasury prices weakened on Thursday after the Bank of England kept interest rates unchanged, surprising investors who had expected the first rate cut in more than seven years, and as U.S. data showed rising inflation. Furthermore, Crude futures fell on Friday as concerns about a global oil glut returned to the fore and traders wait on data from China, which is expected to report its lowest growth rate since 2009.
Back home, the yields on new 10 year Government Stock were trading flat at its previous close at 7.28% on Thursday.
The benchmark five-year interest rates were trading 1 basis point lower at 7.11% from its previous close at 7.12% on Thursday.