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Bond yields edge lower on Friday

31 May 2024 Evaluate

Bond yields edged lower on Friday as Department for Promotion of Industry and Internal Trade (DPIIT) in its latest data has showed that foreign direct investment (FDI) equity inflows in India declined 3.49 per cent to $44.42 billion in 2023-24 due to lower infusion in sectors such as services, computer hardware and software, telecom, auto and pharma. FDI inflows stood at $46.03 billion during 2022-23.

In the global market, U.S. Treasury yields retreated on Thursday as investors looked ahead to key economic data and assessed the state of the economy. Furthermore, oil prices held largely steady on Thursday following the release of U.S. economic data and ahead of crude stockpiles data.

Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 6.98% from its previous close of 7.00% on Thursday.  

The benchmark five-year interest rates were trading flat its previous close of 7.05% on Thursday. 

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