Bond yields traded flat on Friday amid JPMorgan said it will include Indian government bonds to its emerging markets bond index from June 2024, a much-anticipated move which could attract more foreign flows into the domestic debt market.
In the global market, U.S. Treasury yields continued their march higher Thursday, reaching multiyear highs, as investors digested the Federal Reserve’s interest rate decision and forward guidance along with new unemployment data. Furthermore, oil prices settled lower after choppy trading on Thursday, rising as much as $1 a barrel after a Russian ban on fuel exports snatched the focus from Western economic headwinds that had pushed prices down $1 a barrel early in the session.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.13% on Thursday.
The benchmark five-year interest rates were trading 5 basis points higher at 7.18% from its previous close of 7.13% on Thursday.