Bond yields traded higher on Thursday, as the Retirement fund body, Employees' Provident Fund Organisation (EPFO) in its latest ‘Provisional Estimate of Net Payroll’ data report has showed that India created 1411803 new jobs in the month of February 2022.
In the global market, U.S. Treasury yields fell from three-year highs on Wednesday as dip buyers emerged and the U.S. Treasury Department saw strong demand for a sale of 20-year bonds. Furthermore, oil prices traded higher but in a narrow range, after being rocked earlier in the week by supply losses from Libya and a worrying outlook for demand as the International Monetary Fund cut its global growth forecasts
Back home, the yields on new 10 year Government Stock were trading 5 basis points higher at 7.15% from its previous close of 7.10% on Wednesday.
The benchmark five-year interest rates were trading 9 basis points higher at 6.62% from its previous close of 6.53% on Wednesday.