Bond yields traded higher on Friday, as traders remain concerned with Former Reserve Bank of India (RBI) Governor D Subbarao stressing on the need to accelerate India’s economic growth rate and make sure that this benefit of growth is shared, even as he said that unemployment has taken a form of ‘crisis’ in the country.
In the global market, U.S. Treasury yields fell on Thursday following a sell-off amid inflation fears. Furthermore, Oil prices dropped on Friday on the prospect that the OPEC+ supplier alliance might step up a planned increase in output to ease supply concerns, with soaring gas prices spurring power producers to switch from gas to oil.
Back home, the yields on new 10 year Government Stock were trading 2 basis point higher at 6.24% from its previous close of 6.22% on Thursday.
The benchmark five-year interest rates were trading 13 basis points higher at 5.79% from its previous close of 5.66% on Thursday.
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