Bond yields traded flat on Thursday as Income Tax department said it has issued refunds worth over Rs 1.64 lakh crore to over 1.41 crore taxpayers till January 4, this fiscal. This includes Personal income tax (PIT) refunds amounting to Rs 53,070 crore and corporate tax refunds of over Rs 1.10 lakh crore during this period.
In the global market, unoff elections in Georgia that eventually gave Democrats control of the U.S. Senate hoisted the 10-year U.S. Treasury note yield on Wednesday over the 1% level for the first time since March before the rise was tempered by the swarming of the U.S. Capitol by pro-Trump protesters. Furthermore, Oil prices were steady after supporters of President Donald Trump stormed the U.S. Capitol, with investors focusing on the likelihood of tighter supplies after Saudi Arabia unilaterally agreed to cut output.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 5.89% on Wednesday.
The benchmark five-year interest rates were trading 1 basis point higher at 5.08% from its previous close of 5.07% on Wednesday.
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