Bond yields edged higher on Friday as the finance ministry in its latest report stated that India is well placed to grow at a ‘moderately brisk rate’ in the coming years on the back of macroeconomic stability, despite global monetary tightening. It further said inflationary pressures will ease in the coming months with the arrival of kharif crops and at the same time job opportunities will increase with improvement in business prospects.
In the global market, oil prices fell on Thursday, extending losses from the previous session, as fears of supply disruption eased on news that the Group of Seven (G7) nations were considering a high price cap on Russian oil.
Back home, the yields on new 10 year Government Stock were trading 4 basis points higher at 7.29% from its previous close of 7.25% on Thursday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.13% from its previous close of 7.11% on Thursday.