Bond yields traded higher on Thursday even after Commerce Secretary BVR Subrahmanyam’s stated that the country's merchandise exports are expected to touch $1 trillion by 2027-28 and the government has laid down a road map, including district as an export hub scheme, to achieve that number.
In the global market, U.S. Treasury yields fell across most maturities on Wednesday in choppy trading, after a strong 10-year note auction and data showing a slight moderation in consumer prices for the month of July in the world's largest economy. Furthermore, oil prices were steady following two days of gains after a call from the United States, the world's top oil consumer, for major producers to boost output reinforced supply concerns as economies ease their coronavirus restrictions.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 6.22% from its previous close of 6.23% on Wednesday.
The benchmark five-year interest rates were trading 2 basis point lower at 5.73% from its previous close of 5.75% on Wednesday.