Bond yields edged higher on Thursday even after Asian Development Bank (ADB) marginally lowered India's growth forecast to 6.3 per cent for the current financial year from its earlier projection of 6.4 per cent on account of slowing exports and the likely impact of erratic rainfall on agriculture output.
In the global market, U.S. Treasury yields rose on Wednesday after the Federal Reserve signaled it intends to implement another rate hike before the end of 2023, pushing two closely watched notes to multi-year highs. Furthermore, Oil prices fell on Wednesday after the U.S. Federal Reserve left interest rates unchanged as widely expected, but stiffened its hawkish stance with a further rate increase projected by the end of the year.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.16% from its previous close of 7.15% on Wednesday.
The benchmark five-year interest rates were trading 3 basis points higher at 7.18% from its previous close of 7.15% on Wednesday.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: