Bond yields edged higher on Friday as the Confederation of Indian Industry’s (CII) report said that new unicorns are likely to add $1 trillion to the Indian economy, which would reach $7 trillion size by 2030, and add 50 million new jobs. Startup firms valued over $1 billion are categorised as unicorns.
In the global market, U.S. Treasury yields climbed on Thursday after hotter-than-expected wholesale inflation report worried traders about its potential impact on Federal Reserve policy going forward. Furthermore, oil prices rose on Thursday to settle at four-month highs as the International Energy Agency predicted a tighter market in 2024 and raised its view on oil demand growth this year.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.06% from its previous close of 7.04% on Thursday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.06% from its previous close of 7.04% on Thursday.