Bond yields edged higher on Thursday, as United Nations Conference on Trade and Development (UNCTAD) in its latest report said that the trade impact of the coronavirus epidemic for India is estimated to be about $348 million and the country figures among the top 15 economies most affected as slowdown of manufacturing in China disrupts world trade.
In the global market, U.S. benchmark Treasury 10-year yields climbed above 1% on Wednesday as stronger U.S. equities blunted safety-bid moves to fixed income. Furthermore, oil prices rose more than 1%, recouping losses from the previous day on a smaller-than-expected rise in crude oil inventories in the United States, although the gains were capped by uncertainties over cuts by major oil producers.
Back home, the yields on new 10 year Government Stock were trading 3 basis points higher at 6.25% from its previous close of 6.22% on Wednesday.
The benchmark five-year interest rates were trading 5 basis points higher at 5.67% from its previous close of 5.62% on Wednesday.