Bond yields edged higher on Thursday amid a private report stating that India’s exports of goods and services could touch $900 billion in the current financial year, up from $770 billion in the previous year, keeping resilient despite global headwinds.
In the global market, U.S. government-bond yields fell Wednesday after the Federal Reserve raised interest rates and signaled it could hold off on further hikes. Furthermore, Oil prices on Wednesday, extending steep losses from the previous session after the U.S. Federal Reserve raised interest rates and as investors fretted about the economy.
Back home, the yields on new 10 year Government Stock were trading 3 basis points higher at 7.04% from its previous close of 7.01% on Wednesday.
The benchmark five-year interest rates were trading 3 basis points higher at 6.97% from its previous close of 6.94% on Wednesday.