Bond yields were trading higher on Friday, as India is inching toward a major milestone by opening its $1 trillion government bond market to more international investors, one of the most ambitious attempts to attract foreign inflows since the country liberalized its economy three decades ago.
In global front, U.S. Treasury yields were steady on Thursday after a rapid sell-off that sent yields to two-year highs drew buying interest. Furthermore, oil prices plunged, after rising to seven-year highs this week, as an increase in U.S. crude and fuel stockpiles prompted investors to take profits from the rally.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 6.62% from its previous close of 6.60% on Thursday.
The benchmark five-year interest rates were trading 2 basis points higher at 6.07% from its previous close of 6.05% on Thursday