Bond yields edged higher on Thursday, as investors await India’s gross domestic product data for the January-March quarter.
In the global market, U.S. Treasury yields rose, reversing sharp losses the previous session fueled by the Italian political crisis, as financial markets stabilized after Italy sought to end its turmoil with a plan for a new government. Furthermore, oil prices dropped, weighed down by a surprise rise in U.S. crude inventories and by expectations that OPEC and other producers could increase output at a meeting in June.
Back home, the yields on new 10 year Government Stock were trading 7 basis points higher at 7.85% from its previous close of 7.78% on Wednesday.
The benchmark five-year interest rates were trading 6 basis points higher at 7.86% from its previous close of 7.80% on Wednesday.