Bond yields edged higher on Wednesday with report that credit to industries in September 2022 grew at the fastest pace, it has grown in the last 100 months, aided primarily by a pick-up in working capital loans from corporates. Besides, RBI governor Shaktikanta Das’ statement that India today presents a picture of resilience and optimism for the world.
In the global market, U.S. Treasury yields were mixed on Tuesday as the Federal Reserve’s November meeting kicked off and Wall Street looked ahead to another rate hike. Furthermore, Oil prices rose on Tuesday, recouping losses from the previous session, on optimism that China, the world’s second-largest oil consumer, could reopen from strict COVID curbs.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.41% from its previous close of 7.39% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.33% from its previous close of 7.32% on Tuesday.
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