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Bond yields edge flat on Tuesday

27 Dec 2022 Evaluate

Bond yields edged flat on Tuesday with private report that a sustained surge in Covid cases in China could further exacerbate a contraction in India’s exports to its fourth-largest market in the coming months, as order flow has already been faltering at a steady pace. Street now forecast a 40-45% crash in exports to China this fiscal from $21.3 billion in FY22 if the Covid surge continues through January.

In the global market, oil prices continue rising as Russia said it could cut crude output in response to the G7 price cap on Russian exports.

Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.31% on Monday.

The benchmark five-year interest rates were trading 1 basis point lower at 7.22% from its previous close of 7.23% on Monday.

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