Bond yields remained flat on Thursday amid S&P Global Ratings, after a gap of about 10 years, has upped India’s outlook to positive from stable on robust growth prospects for next three years and rising quality of Government spend.
In the global market, benchmark 10-year U.S. Treasury yields hit four-week highs on Wednesday while two-year yields declined, as traders pared back on a popular trade that saw the closely watched two-year, 10-year yield curve reach its most inverted levels in 11 weeks. Furthermore, Oil prices eased about 1% on Wednesday on worries over weak U.S. gasoline demand and economic data that could cause the U.S. Federal Reserve to keep interest rates higher for longer.
Back home, the yields on new 10 year Government Stock were flat with its previous close of 7.00% on Wednesday.
The benchmark five-year interest rates were flat with its previous close of 7.05% on Wednesday.