Bond yields traded higher on Friday after credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has said that the growth in Indian export basket during 1HFY22 showed a healthy mix of both labour-intensive items and high-value manufactured items.
In the global market, U.S. Treasury yields advanced on Thursday, as investors shrugged off weaker-than-expected U.S. economic growth data and focused instead on the inflation components of the report, as well as a solid jobless claims number. Furthermore, oil prices were mixed, but headed for their first weekly losses in at least eight weeks after U.S. oil stocks rose more than expected, and Iran flagged it was resuming talks with Western powers which could lead to an end to sanctions.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.37% from its previous close of 6.36% on Thursday.
The benchmark five-year interest rates were trading 3 basis points higher at 5.87% from its previous close of 5.84% on Thursday.