Bond yields were trading flat on Friday as Deputy Governor Michael Patra stated that Reserve Bank of India (RBI) remains committed to revive and sustain growth and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within target.
In global front, U.S. yields on the shorter end of the curve soared on Thursday after Federal Reserve Chair Jerome Powell flagged multiple interest rate increases this year, citing the economy's strong labor market and persistently high inflation.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 6.74% on Thursday.
The benchmark five-year interest rates were trading 2 basis points lower at 6.10% from its previous close of 6.12% on Thursday.