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Bond yields end higher on Monday

06 Sep 2021 Evaluate

Bond yields ended higher as India's foreign exchange reserves soared by $16.663 billion to touch a lifetime high of $633.558 billion in the week ended 27 August, mainly due to an increase in Special Drawing Rights (SDR) holdings.

In the global market, Longer-dated U.S. Treasury yields rose on Friday and the yield curve steepened after data showed wages increased more than expected in August even as jobs growth slowed. Furthermore, oil prices extended losses after the world's top exporter Saudi Arabia slashed crude prices for Asia over the weekend, signalling that global markets are well supplied.

Back home, the yields on new 10-year Government Stock were ended 2 basis points higher at 6.17% from its previous close of 6.15% on Friday.

The benchmark five-year interest rates were ended 2 basis points higher at 5.59% from its previous close of 5.57% on Friday.


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