Bond yields edged lower on Thursday with a private report stating that the country's total debt, or the total outstanding bonds which are being traded in the market, rose to $2.47 trillion (Rs 205 lakh crore) in the September quarter. The total debt amount in the March quarter of the previous fiscal was $2.34 trillion (Rs 200 lakh crore).
In the global market, the 10-year U.S. Treasury yield on Wednesday hit its lowest level since July as traders assessed the path of future rate cuts from the Federal Reserve. Furthermore, oil prices settled higher Wednesday, but upside momentum was stifled by an unexpected jump in U.S. crude supplies that fueled fresh concerns about growing global output outpacing demand.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 7.16% from its previous close of 7.17% on Wednesday.
The benchmark five-year interest rates were trading 1 basis point lower at 7.07% from its previous close of 7.08% on Wednesday.
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