Bond yields edged higher on Friday as Asian Development Bank (ADB) has raised India's Gross Domestic Product (GDP) growth forecast to 7 per cent for the current fiscal (FY25) from 6.7 per cent earlier. Though, the growth estimates for 2024-25 is lower than 7.6 per cent projected for the 2022-23 fiscal.
In the global market, treasury yields were flat Thursday as traders parsed through new U.S. inflation data in search of clues on when the Federal Reserve may start cutting interest rates. Furthermore, oil prices settled lower on Thursday as sticky inflation dampened hopes for near-term U.S. interest rate cuts, but worries that Iran might attack Israeli interests kept crude near six-month highs.
Back home, the yields on new 10 year Government Stock were trading 6 basis points higher at 7.17% from its previous close of 7.11% on Wednesday
The benchmark five-year interest rates were trading flat with its previous close of 7.10% on Wednesday.