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Bond yields trade higher on Thursday

05 Dec 2019 Evaluate

Bond yields edged higher on Thursday, as World Bank reported that India faces twin threats to its income from global trade which makes up 48 per cent of India’s GDP - rise of protectionism and trade wars and technological change.

In the global market, US Treasury yields rose on Wednesday on an improved outlook for a US-China trade deal, and as investors brushed off mixed US economic data. Furthermore, Oil prices edged lower in muted trading ahead of the start of OPEC meetings later in the day, steadying after the previous session's steep gains on a sharp drop in US crude inventories and expectations of more output cuts.

Back home, the yields on new 10 year Government Stock were trading 13 basis points higher at 6.59% from its previous close of 6.46% on Wednesday.

The benchmark five-year interest rates were trading 12 basis point higher at 6.28% from its previous close of 6.16% on Wednesday.

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