Bond yields edged higher on Thursday despite Crisil Market Intelligence and Analytics said that urban poor have been the most impacted by 15-month high consumer price inflation (CPI) in July.
In the global market, U.S. Treasury yields moved higher Wednesday as investors parsed meeting minutes from the Federal Reserve signaling more rate hikes may be needed. Furthermore, oil prices settled lower on Wednesday despite a large drawdown in U.S. crude stocks as investors weighed worries about China's embattled economy against expectations of tighter supply in the United States.
Back home, the yields on new 10 year Government Stock were trading 4 basis points higher at 7.24% from its previous close of 7.20% on Monday.
The benchmark five-year interest rates were trading 6 basis points higher at 7.24% from its previous close of 7.18% on Monday.