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Bond yields edge lower on Thursday

02 Nov 2023 Evaluate

Bond yields edged lower on Thursday as the Reserve Bank of India (RBI) in its latest monthly data report on ‘India’s International Trade in Services for the Month of September 2023’ has showed that India's services exports declined by 2.7 per cent year-on-year to $ 28,429 million in September 2023.

In the global market, the yield on the 2-year Treasury note fell below the 5% level after the Federal Reserve left rates unchanged for a second consecutive meeting and upgraded its assessment of the economy. Furthermore, oil prices rose more than 2% on Wednesday ahead of the keenly watched meeting of the U.S. central bank for clues on interest rate policy, while the conflict in the Middle East remains in focus.

Back home, the yields on new 10 year Government Stock were trading 3 basis points lower at 7.32% from its previous close of 7.35% on Wednesday.

The benchmark five-year interest rates were trading 1 basis point lower at 7.36% from its previous close of 7.37% on Wednesday.

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