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Bond yields edge lower on Monday

11 Mar 2024 Evaluate

Bond yields edged lower on Monday despite Moody’s Ratings raised India’s GDP growth forecast for FY24 to around 8 per cent from 6.6 per cent on the back of strong domestic consumption and capital expenditure.

In the global market, the 10-year U.S. Treasury yield ticked lower on Thursday as investors considered the outlook for interest rates following commentary from Federal Reserve Chairman Jerome Powell and international inflation updates. Furthermore, oil prices were little changed on Thursday as markets weighed new economic data from China against increasing supply from the Western Hemisphere.

Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 7.01% from its previous close of 7.03% on Thursday.

The benchmark five-year interest rates were trading 1 basis point lower at 7.02% from its previous close of 7.03% on Thursday.

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