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Bond yields edge flat on Monday

13 May 2024 Evaluate

Bond yields edged flat on Monday after India’s factory output growth, measured in terms of the Index of Industrial Production (IIP), slowed marginally to 4.9 per cent month-on-month in March 2024, as compared to 5.6 per cent in February 2024.

In the global market, U.S. Treasury yields were higher on Friday as traders digested downbeat consumer sentiment data, which indicated a significant uptick in inflation expectations. Furthermore, oil prices fell by nearly $1 a barrel on Friday as comments from U.S. central bank officials indicated higher-for-longer interest rates, which could hinder demand from the world's largest crude consumers.

Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.12% on Friday.

The benchmark five-year interest rates were trading 2 basis point higher at 7.14% from its previous close of 7.12% on Friday.

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