Bond yields traded higher on Friday, as Industry chamber PHDCCI’s statement that the gradual receding of the second wave of the COVID-19 pandemic has created scope for the economy to recover from the daunting impact witnessed in April and May 2021.
In the global market U.S. government bonds yields continued their recent decline on Thursday, with 10-year Treasury yields touching their lowest levels in nearly five months as investors' worries persist that the best part of the economic recovery may be over. Furthermore, oil prices were mixed after a boost from a drop in U.S. crude and gasoline inventories, but were still set for a weekly decline on concerns that an OPEC+ impasse could swell global crude supplies.
Back home, the yields on new 10-year Government Stock were trading 5 basis points higher at 6.17% from its previous close of 6.12% on Thursday.
The benchmark five-year interest rates were trading 2 basis points higher at 5.72% from its previous close of 5.70% on Thursday.