Bond yields edged higher on Thursday as revenue secretary Tarun Bajaj has said that he expects GST collection to top the Rs 1.5-lakh-crore-mark from October. Bajaj said ‘for the last couple of months, we’ve been trying very hard to reach that milestone of Rs 1.5 trillion (lakh crore).
In the global market, short-end Treasury yields rose on Wednesday after producer price data, coupled with consumer prices the day before, suggest some inflation is becoming sticky and that the Federal Reserve will keep aggressively tightening monetary policy. Furthermore, Oil prices edged upwards in early Asian trade, as supply concerns and a looming rail stoppage in the United States, the world's biggest crude consumer, supported markets.
Back home, the yields on new 10 year Government Stock were trading 7 basis points higher at 7.22% from its previous close of 7.15% on Wednesday.
The benchmark five-year interest rates were trading 8 basis points higher at 7.12% from its previous close of 7.04% on Wednesday.