Bond yields trade higher on Friday

07 May 2021 Evaluate

Bond yields traded higher on Friday as Finance Ministry released the second monthly installment of revenue deficit grant of Rs 9,871 crore to 17 states. With the release of the second installment, a total amount of Rs 19,742 crore has been released in the first two months of the current financial year as Post Devolution Revenue Deficit Grant to the states

In the global market U.S. Treasury yields weakened on Thursday in a choppy session, moving within narrow ranges, as investors largely shrugged off better-than-expected initial jobless claims data and instead looked ahead to Friday's key non-farm payrolls report. Furthermore, oil prices edged up in early Asian trade after a 1% dip in the previous session, as global economic recovery and easing travel curbs in the United States and Europe buoyed the fuel demand outlook while the surging pandemic in India capped prices.

Back home, the yields on new 10-year Government Stock were trading 4 basis points higher at 6.01% from its previous close of 5.97% on Thursday.

The benchmark five-year interest rates were trading 2 basis points higher at 5.53% from its previous close of 5.51% on Thursday.

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