Bond yields edged flat on Thursday after private report stated that the Reserve Bank of India is likely to raise interest rates once again in April as inflation pressures persist and the Federal Reserve continues to tighten, a day after the central bank delivered what many had expected to be its last hike in the current cycle.
In the global market, U.S. Treasury yields pulled back Wednesday as investors assessed the monetary policy outlook after Federal Reserve Chairman Jerome Powell’s latest comments. Furthermore, Crude oil prices moved lower on Wednesday after the U.S. Energy Information Administration reported an inventory build of 2.4 million barrels for the week to February 3.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.34% on Wednesday.
The benchmark five-year interest rates were trading flat with its previous close of 7.27% on Wednesday.