Bond yields edged higher on Thursday, despite a report stated that India’s GDP is expected to grow at 6.8 per cent in FY20, making it a second straight year of sub-7% expansion. In FY19 too, the economy grew at a rate of 7%.
In the global market, US Treasuries yields fell in line with European government debt, after weak economic data in the region added to expectations that the European Central Bank will signal easier monetary policy. Furthermore, Oil ticked higher after falling in the previous session as more signs of slowing global growth added to demand concerns, with Middle East tensions underpinning prices.
Back home, the yields on new 10 year Government Stock were trading 4 basis points higher at 6.48% from its previous close of 6.44% on Wednesday.
The benchmark five-year interest rates were trading 6 basis points higher at 6.46% from its previous close of 6.40% on Wednesday.