Bond yields edged flat on Wednesday with the Reserve Bank of India’s data in the March 2024 bulletin showing that the net foreign direct investment (FDI) in India, inflows minus outflows, declined 38.4 per cent year-on-year to $15.41 billion in the first 10 months of this financial year due to an increase in the repatriation of capital.
In the global market, U.S. Treasury yields were slightly lower Tuesday as the two-day Federal Reserve meeting kicked off. Furthermore, oil prices hit four-month highs on Tuesday after breaking above range-bound trading last week, but gains were capped by the prospect of rising exports from Russia as Ukrainian attacks on oil infrastructure curb domestic refining activity.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.09% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.09% from its previous close of 7.08% on Tuesday.