Bond yields edged higher on Friday, as investors wait for the October-December growth data. Meanwhile, rating agency ICRA expects the growth of the Indian GDP and the gross value added (GVA) at basic prices in year-on-year (Y-o-Y) terms to rise mildly to 4.7% and 4.5%, respectively, in Q3 FY2020, from 4.5% and 4.3%, respectively, in Q2 FY2020.
In the global market, U.S. Treasury yields steadied following sharp declines on Thursday as coronavirus concerns led investors to pile into safe-haven assets, with the yield on the benchmark 10-year note reaching an all-time low for the third consecutive day. Furthermore, Oil prices fell for a sixth straight session and were on track for about a 12% weekly fall, the biggest in more than four years, as the spread of the coronavirus outside China raised fears of slowing global demand.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 6.39% from its previous close of 6.37% on Thursday.
The benchmark five-year interest rates were trading 3 basis points higher at 5.91% from its previous close of 5.88% on Thursday.