Bond yields traded flat on Wednesday amid Union Minister of State for Finance Bhagwat Kisanrao Karad has said that the growth of deposits and advances of public sector banks (PSBs) has improved from 8.2% and 9.8% in FY2021-22 to 9.3% and 15.8% in FY2022-23, respectively. He stated that the PSBs take all commercial and business-related decisions as per their board approved policies.
In the global market, Treasury yields climbed on Tuesday, as investors weighed declining factory activity in the euro zone and China with stabilizing U.S. manufacturing and job openings that signaled a still-tight labor market. Furthermore, Oil prices edged lower on a stronger dollar and signs of profit-taking after a rally in July when investors bet on tighter global supplies and demand growth in the second half of 2023.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.15% on Tuesday.
The benchmark five-year interest rates were trading flat with its previous close of 7.13% on Tuesday.