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Bond yields edge lower on Tuesday

23 Apr 2024 Evaluate

Bond yields edged lower on Tuesday despite India's business activity expanded at its fastest pace in nearly 14 years in the month of April thanks to robust demand. It also showed easing input inflation and positive jobs growth.

In the global market, treasury yields were little changed on Monday as investors looked to economic data in the week ahead that could provide fresh hints about the state of the economy and the outlook for interest rates. Furthermore, oil futures fell on Monday as traders focused on market fundamentals, seeing little near-term risk that the Middle East conflict would impact supply.

Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 7.17% from its previous close of 7.19% on Monday.

The benchmark five-year interest rates were trading flat with its previous close of 7.20% on Monday.

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