Bond yields traded lower on Wednesday as India’s retail inflation based on the Consumer Price Index (CPI) rose to a three-month high of 5.55 per cent in November 2023 on firming food prices, including vegetables and cereals.
In the global market, The 10-year U.S. Treasury yield was fell on Tuesday as investors parsed the latest inflation numbers with the Federal Reserve’s last interest rate decision of the year looming. Furthermore, Oil prices fell more than 3% on Tuesday to their lowest level in six months on concerns of oversupply and after U.S. economic data showed an unexpected rise in consumer prices.
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 Tuesday.
The benchmark five-year interest rates were trading 1 basis point lower at 7.23% from its previous close of 7.24% on Tuesday.