Bond yields edged lower on Wednesday, as some support came with Defence Minister Rajnath Singh’s statement that India is impacted to some extent by the global economic slowdown but expressed confidence that the country will come out of the difficult situation within a short time.
In the global market, US Treasury yields were steady on Tuesday as investors stayed cautious despite strong US housing data. Furthermore, Oil retreated after rising more than 1% in the previous session as US industry data showed a surprise build in crude stocks, but hopes for firmer demand next year checked a deeper fall in prices.
Back home, the yields on new 10 year Government Stock were trading 3 basis points lower at 6.71% from its previous close of 6.74% on Tuesday.
The benchmark five-year interest rates were trading 2 basis points lower at 6.55% from its previous close of 6.57% on Tuesday.
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