Bond yields traded higher on Friday as Financial services secretary Ajay Seth said the total revenue from corporate and excise tax collections is expected to be in line with budget estimates for the current fiscal year (FY24).
In the global market, Treasury yields edged higher on Thursday as concerns receded a bit about hotter-than-expected U.S. retail sales and producer prices in August as much of the rising costs were driven by a surge in gasoline prices that could wane in coming months. Furthermore, oil prices jumped on Thursday, with U.S. crude topping $90 a barrel, as expectations of a tighter supply grew.
Back home, the yields on new 10 year Government Stock were trading 4 basis points higher at 7.14% from its previous close of 7.10% on Thursday.
The benchmark five-year interest rates were trading 6 basis points higher at 7.16% from its previous close of 7.10% on Thursday.
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