Bond yields edged flat on Thursday after commerce ministry in its latest data has showed that contracting for the second month in a row, India's Merchandise exports dipped by 6.58 per cent to $32.91 billion in January 2023 as against $ 35.23 billion in the same month last year due to slowdown in global demand, even as the trade deficit touched a 12-month low of $17.75 billion during the month. Imports in January 2023 too contracted by 3.63 per cent, the second consecutive month, to $50.66 billion.
In the global market, U.S. Treasury yields ticked higher on Wednesday after January’s retail sales figure came in hotter than anticipated, just one day after the monthly consumer price index report also beat expectations. Furthermore, oil prices extend losses on Wednesday as a much bigger-than-expected surge in the U.S. crude inventories and anticipation of further interest rate hikes sparked concerns over the prospect of weaker fuel demand and economic recession.
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 7.32% on Wednesday.