Bond yields edged higher on Friday amid Amitabh Kant, former chief executive officer of NITI Aayog and India’s G20 Sherpa said India must aim to accelerate its pace of growth to 9-10 per cent over a three-decade period. Kant emphasised India's potential to outpace Japan and Germany, projecting it to become the world's third-largest economy by 2027.
In the global market, the yield on the 2-year Treasury note rose on Thursday as investors digested the Federal Reserve's latest guidance on the potential path ahead for interest rate cuts. Furthermore, oil prices settled slightly lower on Thursday, pressured by weaker U.S. gasoline demand data and reports of a United Nations draft resolution calling for a ceasefire in Gaza.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.06% from its previous close of 7.05% on Thursday.
The benchmark five-year interest rates were trading 3 basis points higher at 7.09% from its previous close of 7.06% on Thursday.