Bond yields edged lower on Thursday even after Finance Minister Nirmala Sitharaman highlighted that inflation has come down to a manageable level and said the country’s economic growth remains a priority for the government. She added that job creation and equitable distribution of wealth remain the other focus areas.
In the global market, benchmark U.S. Treasury yields tumbled after earlier hitting three-month highs, as demand for dollars helped send money into the government debt and before Federal Reserve Chair Jerome Powell will speak on Thursday.
Back home, the yields on new 10 year Government Stock were trading 5 basis point lower at 7.13% from its previous close of 7.18% on Wednesday.
The benchmark five-year interest rates were trading 5 basis points lower at 6.98% from its previous close of 7.03% on Wednesday.