Bond yields edged lower on Friday, despite Reserve Bank of India’s consumer confidence survey (CCS) highlighted that a further drop in consumer confidence in November as households remained pessimistic about jobs and the general economic situation.
In the global market, US Treasury yields rose on Thursday as a range of reports indicated continued economic growth, then pared the gains in afternoon trading. Furthermore, Oil edged up in early Asia trade, with US crude trading near a two-month high after OPEC agreed to increase output curbs by nearly 50% in early 2020, although the cartel stopped short of promising any further steps after March.
Back home, the yields on new 10 year Government Stock were trading 4 basis points lower at 6.61% from its previous close of 6.65% on Thursday.
The benchmark five-year interest rates were trading 5 basis points higher at 6.37% from its previous close of 6.32% on Thursday.