Bond yields edged lower on Thursday, with a private report stating that the Indian economy is expected to start its recovery from later part of this fiscal thanks to the initiatives taken by the Reserve Bank for policy rate transmission and steps by the government to boost growth.
In the global market, Yields on US Treasury long-dated debt rallied from two-week lows on Wednesday, after falling for seven straight sessions, bolstered by strong housing data and comments by President Donald Trump about a possible trade deal with China. Furthermore, Oil prices held nearly flat after US President Donald Trump said a resolution to the China-US trade rift would come sooner than expected, helping to stave off pressure from rising oil supplies and worries about global growth.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 6.73% from its previous close of 6.75% on Wednesday.
The benchmark five-year interest rates were trading 5 basis point higher at 6.55% from its previous close of 6.50% on Wednesday.