Bond yields traded higher on Friday, as India’s merchandise exports grew by 5.99 percent to $27.58 billion in September 2020 as compared to same period of last year, on account of growth in shipments of drugs and pharmaceuticals and readymade garments.
In the global market, U.S. Treasury yields edged higher on Thursday, changing direction after an earlier safe-haven rally sparked when jobless claims notched an unexpected climb. Furthermore, oil prices fell on concerns that major producers will move ahead with plans to ease their supply cuts even as a spike in COVID-19 cases in Europe and the United States is curtailing demand in two of the world's biggest fuel consuming regions.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 5.91% from its previous close of 5.89% on Thursday.
The benchmark five-year interest rates were trading 9 basis points higher at 5.25% from its previous close of 5.16% on Thursday.