Bond yields traded higher on Thursday as a private report stated that Indian economy is projected to grow 7.1-7.6 per cent in the current financial year despite shifting geopolitical realities across the world.
In the global market, the benchmark U.S. Treasury yield curve on Wednesday posted its largest inversion since November 2000, as investors priced in a full percentage point of Federal Reserve tightening this month that could push the world's largest economy into recession. Furthermore, oil prices ticked down as investors doubled down on the possibility of a rate hike by the U.S. Federal Reserve that would stem inflation and curb oil demand.
Back home, the yields on new 10 year Government Stock were trading 6 basis points higher at 7.39% from its previous close of 7.33% on Wednesday.
The benchmark five-year interest rates were trading 8 basis points higher at 7.17% from its previous close of 7.09% on Wednesday.