Bond yields edged lower on Thursday amid India's executive director at International Monetary Fund (IMF) Krishnamurthy Venkata Subramanian said that India needs to grow at 8 per cent on sustained basis to create sufficient jobs to reduce poverty and inequality. India's economy grew by better-than-expected 8.4 per cent in the final three months of 2023 - the fastest pace in one-and-half years. He said ‘We should be impatient even if we grow at 7 per cent.
In the global market, the 10-year U.S. Treasury dipped on Wednesday as investors parsed the Federal Reserve’s latest interest rate decision and its plan to ease three times before the end of the year. Furthermore, Oil prices fell on Wednesday as the U.S. Federal Reserve held interest rate steady and demand concerns continue to weigh.
Back home, the yields on new 10 year Government Stock were trading 3 basis point lower at 7.06% from its previous close of 7.09% on Wednesday.
The benchmark five-year interest rates were trading 3 basis points lower at 7.06% from its previous close of 7.09% on Wednesday.