Bond yields were trading higher on Friday as Reserve Bank of India (RBI) Governor Shaktikanta Das said the Indian economy is resilient with financial stability maintained with a well-capitalised banking sector, amid global uncertainties and shocks.
In the global market, U.S. Treasury yields were lower on Thursday as investors weighed recession risks and assessed the outlook for Federal Reserve policy in the New Year. Furthermore, global crude oil prices slumped on Thursday amid a spike in coronavirus infections in China, triggering concerns over demand in the world’s second largest importer of oil.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.32% from its previous close of 7.31% on Thursday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.22% from its previous close of 7.21% on Thursday.