Bond yields edged higher on Monday after Finance Ministry has said that Goods and Services Tax (GST) collections for December 2022 stood at Rs 1,49,507 crore -- 2.5 per cent more than Rs 1,45,867 crore collected in November 2022. On year-on-year basis, GST revenue collected for December 2022 was 15 per cent higher than collections of December 2021, which was Rs 1,29,780 crore.
In the global market, Treasury yields edged higher on Friday as traders wrapped up a brutal 2022 for bond investing and assessed the potential headwinds markets could face in the New Year. Furthermore, Oil prices ended the week higher on Friday, rallying on the last trading of the year, despite an unexpected rise in US crude stocks, recession fears and demand concerns owing to a resurgence of Covid-19 infections in the world's top crude importer China.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.34% from its previous close of 7.32% on Friday.
The benchmark five-year interest rates were trading 3 basis points higher at 7.25% from its previous close of 7.22% on Friday.
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