Bond yields edged higher on Thursday after Union Minister of Commerce and Industry Piyush Goyal said India’s exports to Nordic region has grown over 39% from 2018-19 to 2022-23 and that exports to Finland & Norway-grown by over 100% & 80% respectively.
In the global market, The U.S. 10-year Treasury yield was little changed after briefly falling to its lowest level in two months Wednesday, as investors considered what could be on the horizon for interest rates and the economy ahead of the Thanksgiving holiday. Furthermore, oil prices tanked 4% on Wednesday as OPEC+ producers unexpectedly delayed a meeting on output planned for Sunday, raising questions about the future course of crude production cuts.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.25% from its previous close of 7.24% on Wednesday.
The benchmark five-year interest rates were trading flat with its previous close of 7.28% on Wednesday.