Bond yields edged higher on Wednesday even after Crisil Ratings in its latest report based on the analysis of 350 companies has said that Indian corporates' revenues are likely to have grown 8-10 per cent in the 2023 December quarter (Q3FY24) on an annual basis.
In the global market, U.S. Treasury yields rose on Tuesday, reversing the bullish tone at the end of last week after central bankers in Europe and the United States pushed back against market expectations of imminent interest rate cuts. Furthermore, oil prices rose by around 1% on Tuesday, as investors weighed the impact of tensions in the Middle East.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.15% from its previous close of 7.14% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.03% from its previous close of 7.02% on Tuesday.