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Bond yields trade higher on Friday

16 Jun 2023 Evaluate

Bond yields traded higher on Friday even after data showing that India's merchandise trade deficit rose to its highest level since December 2022 to $22.12 billion in May. India's exports in the month of May declined 10.3 per cent to $34.98 billion while imports fell 6.6 per cent to $57.1 billion.

In the global market, U.S. Treasury yields were lower on Thursday as investors digested a flurry of economic data and the repercussions from the latest policy statement from the Federal Reserve on Wednesday afternoon. Furthermore, Oil prices gained on Thursday on a weaker U.S. dollar and a jump in refinery runs in top crude importer China. 

Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.05% from its previous close of 7.03% on Thursday.

The benchmark five-year interest rates were trading 1 basis point higher at 6.99% from its previous close of 6.98% on Thursday.

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