Bond yields edged higher on Friday amid the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) has decided to keep the policy repo rate unchanged at 6.5% at its first meeting of FY25, as retail inflation continues to be above its target of 4 per cent.
In the global market, the 10-year Treasury yield dipped on Thursday as investors closely monitored speeches from a host of Federal Reserve officials and awaited the release of March nonfarm payrolls on Friday. Furthermore, oil prices extended gains on Thursday, settling up more than $1 as geopolitical tensions and output cuts outweighed caution about U.S. Federal Reserve rate cuts.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.11% from its previous close of 7.09% on Thursday.
The benchmark five-year interest rates were trading flat with its previous close of 7.08% on Thursday.
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