Bond yields traded flat on Wednesday as International Monetary Fund’s Executive Board said Indian economy is likely to log 6.3% growth in FY24 and FY25 on the back of macroeconomic and financial stability.
In the global market, U.S. Treasury yields edged lower on Tuesday but held above last week's multi-month lows as investors continued to digest comments from Federal Reserve officials for indications on when the U.S. central bank is likely to begin cutting interest rates. Furthermore, oil prices rose more than a dollar a barrel on Tuesday, extending the previous session's gains after attacks by Yemen's Iran-aligned Houthi militants on ships in the Red Sea disrupted maritime trade and forced more companies to reroute vessels.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.17% on Tuesday.
The benchmark five-year interest rates were trading flat with its previous close of 7.09% on Tuesday.