Bond yields traded higher on Friday, as traders eye the Monetary Policy Committee’s rate decision and the central bank’s stance on liquidity amid New Delhi’s elevated borrowing plan.
In the global market, longer-term U.S. Treasury yields were higher on Thursday as investors positioned for a large pandemic relief package from Washington and a stabilizing U.S. labor market. Furthermore, Oil prices climbed, extending a run of strong gains this week, boosted by the continued commitment of producers to hold back crude supply and positive signs of economic growth in the United States.
Back home, the yields on new 10-year Government Stock were trading 3 basis points higher at 6.10% from its previous close of 6.07% on Thursday.
The benchmark five-year interest rates were trading 14 basis points higher at 5.63% from its previous close of 5.49% on Thursday.