Bond yields were trading flat on Friday as Finance Minister Nirmala Sitharaman has urged multilateral financial institutions to increase funding especially to low and middle income countries to prepare them to deal with pandemic situations in the future. She said that low income and middle income countries do not have enough resources and need global support to face challenges.
In global front, yields dropped on Thursday as bonds benefited from safe haven demand on concerns about a possible Russian invasion of Ukraine, and after U.S. economic data came in weaker than economists’ expectations. Furthermore, oil prices retreated after wild swings during the week, as the prospect of extra supply from Iran returning to the market outweighed fears of a possible Russian invasion of Ukraine, which could disrupt supply.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 6.67% on Thursday.
The benchmark five-year interest rates were trading flat with its previous close of 5.91% on Thursday.