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Bond yields trade lower on Friday

24 Mar 2023 Evaluate

Bond yields were trading lower on Friday despite report stating that India’s exports to the UAE are expected to touch an all-time high of $32 billion by the end of this fiscal due to the benefits of free trade agreement between the countries.

In the global market, U.S. Treasury yields declined on Thursday as investors digested the Federal Reserve’s latest policy decision and considered the central bank’s policy guidance. Furthermore, Oil prices settled lower on Thursday, reversing early gains after U.S. Energy Secretary Jennifer Granholm told lawmakers that refilling the country's Strategic Petroleum Reserve (SPR) may take several years.

Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 7.32% from its previous close of 7.34% 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.