Bond yields edged higher on Friday as commerce ministry in its latest data has said that India’s merchandise exports rose to a three-month high of 3.12 per cent to $36.92 billion in January 2024 as compared to $35.80 billion in January 2023 despite global uncertainties including the Red Sea crisis.
In the global market, U.S. Treasury yields fell Thursday after weaker-than-expected retail sales data, coming on the heels of a hotter inflation print this week, raised some concern about the strength of the consumer. Furthermore, oil prices rose over 1% on Thursday after U.S. retail data prompted a sell-off in the dollar, though investors eyed an International Energy Agency (IEA) report that flagged slowing demand growth this year.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.09% from its previous close of 7.08% on Thursday.
The benchmark five-year interest rates were trading flat with its previous close of 7.07% on Thursday.
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