Bond yields edged flat on Thursday as CBDT (Central Board of Direct Taxes) Chairman Nitin Gupta said the government of India will exceed the Rs 18.23 lakh crore direct tax collection target set for the current fiscal.
In the global market, U.S. Treasury yields rebounded from two-month lows on Wednesday despite signs of slowing inflation after a revision of retail sales data showed strong gains in September. Furthermore, oil prices tumbled more than 1.5% on Wednesday on a bigger-than-expected rise in U.S. crude inventories and record production in the world's biggest producer, along with mounting worries about demand in Asia.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.22% on Wednesday.
The benchmark five-year interest rates were trading flat with its previous close of 7.25% on Wednesday.