Bond yields traded higher on Friday, as Union Minister of State for Finance Anurag Thakur said that the Union budget 2021-22 shows hope to build a new India and will lead the nation on the path of becoming an economic and manufacturing powerhouse.
In the global market, U.S. Treasury yields rose on Thursday after the Treasury Department sawsoft demand for a sale of new 30-year bonds, but they held below highs reached earlier this week after inflation data on Wednesday disappointed. Furthermore, oil prices fell a second day, extending losses after OPEC cut its demandforecast and the International Energy Agency said the market was stillover-supplied.
Back home, the yields on new 10-year Government Stock were trading 3 basis points higher at 5.98% from its previous close of 5.96% on Thursday.
The benchmark five-year interest rates were trading 1 basis point lower at 5.52% from its previous close of 5.53% on Thursday.
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