Bond yields traded higher on Thursday as Chief Economic Adviser (CEA) K V Subramanian said India will clock over 7 per cent annual growth during this decade on the back of strong economic fundamentals. During the current fiscal, he said, growth would be in double-digits and it could moderate to 6.5 - 7 per cent in the next financial year.
In the global market, Traders slowed their selling of U.S. Treasuries on Wednesday, leaving yields little changed, as they kept an eye on government budget talks in Washington. Furthermore, oil prices fell, after official figures showed an unexpected rise in inventories in the United States although prices seem to have stabilised following a recent run of gains.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.21% from its previous close of 6.20% on Wednesday.
The benchmark five-year interest rates were trading 3 basis points higher at 5.67% from its previous close of 5.64% on Wednesday.