Bond yields edged higher on Thursday as Commerce and Industry Minister Piyush Goyal said a number of measures such as tweaks in customs duties on certain products announced in the Union Budget for 2023-24 will help boost the country's exports.
In the global market, the yield on the benchmark 10-year Treasury note declined on Wednesday after the Federal Reserve raised its benchmark interest rate by a quarter percentage point, as expected. Furthermore, oil prices settled lower on Wednesday after sliding more than $3 a barrel in the session after U.S. government data showed big builds in crude oil, gasoline and distillate inventories and OPEC and its allies stuck to their output policy.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.29% from its previous close of 7.27% on Wednesday.
The benchmark five-year interest rates were trading 5 basis points lower at 7.18% from its previous close of 7.23% on Wednesday.