Bond yields trade higher on Monday

30 Mar 2020 Evaluate

Bond yields edged higher on Monday despite domestic rating agency Icra’s stated that India's gross domestic product (GDP) is likely to contract by 4.5 per cent in the April-June 2020 quarter and will rise by only 2 per cent in 2020-21 on the coronavirus impact,

In the global market, treasury yields fell on Friday as investors shrugged off the passage of a $2 trillion stimulus bill by the U.S. Congress and sought safety in high-quality assets. Furthermore, crude oil benchmarks dropped, extending last week's losses as the global coronavirus pandemic worsened and the Saudi Arabia-Russia price war showed no\ signs of abating.

Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 6.16% from its previous close of 6.14% on Friday.

The benchmark five-year interest rates were trading 10 basis points higher at 5.69% from its previous close of 5.59% on Friday.

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