Bond yields edged higher on Thursday, as traders were concerned with Asian Development Bank lowering India's Gross Domestic Product (GDP) growth forecast to 7 per cent for the current year on the back of fiscal shortfall concerns.
In the global market, US Treasury yields fell on Wednesday as concerns about the US-China trade war boosted demand for safe haven debt and after data showed weakness in the US housing market. Furthermore, Oil prices fell, extending declines into a fourth day, after official data showed US stockpiles of products like gasoline rose sharply last week, suggesting weak demand during the peak driving season.
Back home, the yields on new 10 year Government Stock were trading 3 basis points higher at 6.38% from its previous close of 6.35% on Wednesday.
The benchmark five-year interest rates were trading 3 basis points higher at 6.41% from its previous close of 6.38% on Wednesday.