Bond yields traded higher on Friday after the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) kept the key repo rate unchanged at 6.5 per cent, while maintaining the 'withdrawal of accommodation' stance.
In the global market, U.S. Treasury yields fell on Thursday ahead of a much-anticipated jobs report on Friday which will be watched for new clues on whether the economy is strong enough for the Federal Reserve to keep hiking interest rates. Furthermore, oil prices dipped on Thursday as an uncertain demand outlook overshadowed an OPEC+ decision to maintain oil output cuts, keeping supply tight.
Back home, the yields on new 10 year Government Stock were trading 14 basis points higher at 7.35% from its previous close of 7.21% on Thursday.
The benchmark five-year interest rates were trading 14 basis points higher at 7.38% from its previous close of 7.24% on Thursday.
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