Bond yields edged lower on Thursday despite Reserve Bank Governor Shaktikanta Das said that the Indian banking system has remained resilient and not adversely impacted by recent events in the global financial ecosystem.
In the global market, U.S. Treasury yields rose on Wednesday as investors awaited key economic data that could provide fresh insights into the state of the economy and affect the Federal Reserve’s monetary policy. Furthermore, Oil prices dropped on Wednesday, extending the previous session's sharp losses, even after a report showed U.S. crude inventories fell more than expected, as recession fears grew for the world's biggest economy.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 7.10% from its previous close of 7.11% on Wednesday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.02% from its previous close of 7.01% on Wednesday.