Bond yields edged marginally higher on Wednesday, as traders took some support with Finance Ministry’s statement that the Indian economy is on course to achieve projected 8-8.5 per cent growth based on high-frequency indicators for the first quarter of the current fiscal.
In the global market, U.S. Treasury yields rose Tuesday as Wall Street assessed better-than-expected corporate earnings reports, and wagered whether stocks have found a bottom. Furthermore, Oil prices fell slightly in early Asian trade on Wednesday, pressured by global central bank efforts to tame inflation and ahead of expected builds in US crude inventories as product demand weakens.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.44% from its previous close of 7.43% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.19% from its previous close of 7.18% on Tuesday.