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Bond yields edge flat on Thursday

12 Oct 2023 Evaluate

Bond yields edged flat on Thursday as the International Monetary Fund’s Deputy Director, Fiscal Affairs Department, Ruud de Mooij said that India has a high debt like that of China but the risks associated with it are not as great as that of its northern neighbour.

In the global market, U.S. Treasury yields were mixed on Wednesday, with those on benchmark 10-year notes falling to a roughly two-week low, as prices rose on safe-haven flows due to fighting in the Middle East that has persisted for a fifth straight day. Furthermore, oil prices fell over 2% on Wednesday as fears of disruption to supplies due to conflict in the Middle East receded a day after top OPEC producer Saudi Arabia pledged to help stabilise the market.

Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.30% on Wednesday.

The benchmark five-year interest rates were trading 1 basis point lower at 7.34% from its previous close of 7.35% on Wednesday.

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