Bond yields edged lower on Thursday despite the International Monetary Fund said that India is one of the strong performers, which in a report projected a 6.5 percent growth rate for the country for the year 2024. It said that with this, India continues to be the fastest growing economies of the world and ahead of China's growth projection of 4.6 per cent during the same period.
In the global market, U.S. Treasury yields pulled back on Wednesday as investors digested comments from Federal Reserve policymakers about the state of the economy and monetary policy outlook. Furthermore, oil prices fell further Wednesday on receding worries about a bigger Israel-Iran conflict, while global stocks varied following a stream of mixed earnings.
Back home, the yields on new 10 year Government Stock were trading 3 basis point lower at 7.16% from its previous close of 7.19% on Tuesday.
The benchmark five-year interest rates were trading flat with its previous close of 7.20% on Tuesday.
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