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Bond yields trade lower on Tuesday

03 Jan 2017 Evaluate

Bond yields edged lower on Tuesday after India's federal government curtailed its weekly borrowings for the rest of the financial year.

In the global market, U.S. Treasury debt yields closed lower on Friday in a shortened session, falling for the third straight day to end a weak fourth quarter with a modest consolidation and round out a year of surprises. Furthermore, Oil prices rose in the first trading hours of 2017, buoyed by hopes that a deal between OPEC and non-OPEC members to cut production, which kicked in on Sunday, will be effective in draining the global supply glut.

Back home, the yields on new 10 year Government Stock were trading 7 basis points lower at 6.34% from its previous close of 6.41% on Monday. 

The benchmark five-year interest rates were trading 2 basis points higher at 6.54% from its previous close of 6.52% on Monday.

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