Bond yields edged higher on Tuesday as India’s current account balance posted a surplus of $5.7 billion or 0.6 per cent of gross domestic product (GDP) during the fourth quarter ended March 2024 (Q4FY24).
In the global market, US Treasury yields stayed steady on Monday as investors eagerly awaited key economic and inflation data later this week. Furthermore, crude oil futures rose 1% on Monday and are on pace to post a gain for the month, as signs point to strengthening gasoline demand in the US and geopolitical tensions flare again in the Middle East.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.98% from its previous close of 6.97% on Monday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.01% from its previous close of 6.99% on Monday.