Bond yields edged flat on Wednesday as the finance ministry in its Monthly Economic Review for March said that India’s economy continues to be robust, but downside risks such as rising crude oil prices, adverse weather conditions, and the global banking crisis outweigh the upside potential in gross domestic product (GDP) growth in the current financial year (FY24).
In the global market, U.S. Treasury yields climbed as investors awaited the release of key economic data and assessed what it could mean for Federal Reserve interest rate policy. Furthermore, Oil prices dropped on Tuesday after two sessions of gains, as deepening concerns of an economic slowdown and a stronger dollar outweighed hopes of higher Chinese demand.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.11% on Tuesday.
The benchmark five-year interest rates were trading flat with its previous close of 6.99% on Tuesday.