Bond yields edged lower on Thursday, as broad market awaits New Delhi’s likely fiscal stimulus package for further cues.
In the global market, U.S. Treasury yields moved in mixed directions on Wednesday as the Federal Reserve repeated its vow to use every tool in its toolbox to rescue the coronavirus-ravaged economy. Furthermore, oil prices rose, building on big gains in the previous session on signs the U.S. crude glut is not growing as fast as expected and that gasoline demand battered by COVID-19 restrictions is starting to pick up.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 6.11% from its previous close of 6.12% on Wednesday.
The benchmark five-year interest rates were trading 1 basis point lower at 5.18% from its previous close of 5.19% on Wednesday.