Bond yields traded higher on Thursday, as report stated that India’s GDP will rise by $406 billion by 2050 and more than 43 million jobs will be created, as the Asia’s third-largest economy leaps towards a net-zero target.
In the global market, U.S. Treasury debt yields shot higher on Wednesday as the market was battered by the biggest annual gain in U.S. consumer prices in 31 years and a weak 30-year bond auction. Furthermore, oil prices were steady after falling in the previous session on concerns rising inflation in the United States, spurred by climbing energy costs, may prompt the government to release more strategic crude stockpiles to drive down prices.
Back home, the yields on new 10 year Government Stock were trading 4 basis points higher at 6.37% from its previous close of 6.33% on Wednesday.
The benchmark five-year interest rates were trading 4 basis points higher at 5.85% from its previous close of 5.81% on Wednesday.