Bond yields traded flat on Friday with World Bank chief economist Indermit Gill’s statement that middle-income countries like India need to make policies based on reliable data to get into the league of high-income nations in next 3-4 decades as achieving sustainable growth will become harder.
In the global market, Treasury yields surged again on Thursday, lifting the benchmark 10-year to a 16-year high of almost 5%, after Federal Reserve Chair Jerome Powell said signs of above-trend growth or a too-strong labor market could warrant more monetary tightening. Furthermore, oil prices settled higher on Thursday as traders remained nervous that Israel's military campaign in Gaza could escalate to a regional conflict.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.36% on Thursday.
The benchmark five-year interest rates were trading 1 basis point lower at 7.36% from its previous close of 7.37% on Thursday.
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