Bond yields edged higher on Friday with report that India Inc expects private capex to gain further momentum in the short to medium term, as it sees green shoots of revival in sectors like real estate, construction, logistics and chemicals, among others.
In the global market, U.S. Treasury yields moved higher Thursday as investors assessed the outlook for the Federal Reserve’s interest rate hikes and awaited key inflation data slated for Friday. Furthermore, Oil settled lower on Thursday as traders shrugged off the closure of a major Canada-to-U.S. crude pipeline, focusing instead on concerns that global economic slowdowns would slash fuel demand.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.30% from its previous close of 7.28% on Thursday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.19% from its previous close of 7.17% on Thursday.