Bond yields traded flat on Thursday amid a private report stating that India’s central bank will likely raise its inflation outlook this week to reflect costlier oil, but leave borrowing costs steady and tap other policy tools it’s used before to support an economy facing new risks to recovery.
In the global market, the benchmark U.S. 10-year Treasury yield rose on Wednesday but was off its session high after minutes of the most recent Federal Reserve meeting showed the central bank's balance sheet reduction could begin next month. Furthermore, oil prices clawed back some losses after tumbling more than 5% to a three-week low in the previous session after consuming nations announced a huge release of oil from emergency reserves to offset supply lost from Russia.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 6.91% on Wednesday.
The benchmark five-year interest rates were trading 1 basis point lower at 6.17% from its previous close of 6.18% on Wednesday.
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