Bond yields edged lower on Friday as Reserve Bank of India (RBI) in its latest data has showed that India's services exports declined 1.3 per cent in March to $30 billion while imports fell by 2.1 per cent to $16.61 billion. As per RBI's data on India's international trade in services, the trade surplus during March 2024 was $13.4 billion. Both exports and imports of services were in positive zone in the preceding two months.
In the global market, Treasury yields edged higher in choppy trading on Thursday after steep falls the previous session, benefiting from stronger-than-expected labor market data that reinforced the view that the Federal Reserve will delay cutting interest rates to later this year. Furthermore, oil prices rose on Thursday, rebounding from three days of losses that took prices to their lowest since mid-March.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 7.15% from its previous close of 7.16% on Thursday.
The benchmark five-year interest rates were trading flat with its previous close of 7.17% on Thursday.
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