Bond yields traded flat on Friday amid finance ministry has said Goods and Services Tax (GST) collection rose 12 per cent to Rs 1.57 lakh crore in May 2023. Goods and Services Tax collection in May last year was about Rs 1.41 lakh crore. Last month, GST collection was at a record high of Rs 1.87 lakh crore.
In the global market, U.S. Treasury yields fell on Thursday on news of an extended drop in new manufacturing orders and lower labor costs, while a debt-ceiling bill advanced in Washington. Furthermore, oil prices rose on Thursday by the most in two weeks ahead of an OPEC+ meeting on Sunday, while House of Representatives passage of a bill to suspend the U.S. debt ceiling helped to offset the impact of rising inventories in the country.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 6.97% on Thursday.
The benchmark five-year interest rates were trading 2 basis points lower at 6.88% from its previous close of 6.90% on Thursday.