Bond yields traded higher on Friday after the Reserve Bank of India’s monetary policy committee kept key interest rates unchanged, while retaining an accommodative stance to help revive the economy, which is facing a slowdown due to the coronavirus pandemic.
In the global market, U.S. Treasury yields rose on Thursday as market positioning ahead of the September employment report and a risk-on sentiment sparked by a stopgap debt ceiling plan in Congress pushed debt prices lower. Furthermore, oil prices rose, tracking towards a 4.2% gain for the week on signs some industries have begun switching fuel from high priced gas to oil and on doubts the U.S. government would release oil from its strategic reserves for now.
Back home, the yields on new 10 year Government Stock were trading 5 basis points higher at 6.31% from its previous close of 6.26% on Thursday.
The benchmark five-year interest rates were trading 1 basis point lower at 5.82% from its previous close of 5.83% on Thursday.
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