Bond yields traded higher on Thursday, as Industry chamber PHDCCI called for a 3-tier GST rate structure, with the highest slab at 18 per cent, to help boost consumption and reduce evasion.
In the global market, U.S. Treasury yields settled mostly higher on Wednesday after a top Federal Reserve official's comments on interest rates shifted traders' focus away from disappointing payroll data. Furthermore, oil prices edged higher, supported by tensions in the Middle East, but failed to regain most of the previous day's losses after a surprise build in crude stockpiles in the United States, the world's top oil consumer.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.20% from its previous close of 6.19% on Wednesday.
The benchmark five-year interest rates were trading 1 basis point higher at 5.71% from its previous close of 5.70% on Wednesday.