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Bond yields trade lower on Tuesday

28 Nov 2023 Evaluate

Bond yields traded lower on Tuesday even after Reserve Bank of India (RBI) in its latest data showed that India's foreign exchange reserves increased by $5.077 billion to $595.397 billion for the week ending November 17.

In the global market, U.S. Treasury yields were lower on Monday, with the benchmark U.S. 10-year Treasury yield extending declines after a weaker-than-expected report on the housing market. Furthermore, Oil prices slipped on Monday, with Brent falling toward $80 a barrel, as investors waited for an OPEC+ meeting later this week for an agreement expected to curb supplies into 2024.

Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 7.26% from its previous close of 7.27% on Friday.

The benchmark five-year interest rates were trading 1 basis point higher at 7.31% from its previous close of 7.30% on Friday.

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