Skip to main content

MoneyWorks4Me

Bond yields trade flat on Wednesday

05 Jul 2023 Evaluate

Bond yields traded flat on Wednesday amid India’s services sector activity eased to a three-month low in June. As per the survey report, the seasonally adjusted S&P Global India Services PMI Business Activity Index fell at 58.5 in June from 61.2 in May. Further, the S&P Global India Composite PMI Output Index -- which measures both manufacturing and services -- eased to 59.4 in June as against 61.6 in May.

In the global market, oil prices climbed 2% on Tuesday as markets weighed August supply cuts by top exporters Saudi Arabia and Russia against a weak global economic outlook.

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 7.09% on Tuesday.