Bond yields trade flat on Thursday amid CRISIL’s report stating that India’s current account surplus in the fourth quarter of the 2023-24 fiscal was aided by narrowing of the merchandise trade deficit, an increase in remittances and a surplus in services trade. The country’s current account recorded a surplus of USD 5.7 billion, which is 0.6 per cent of the GDP, in the fourth quarter of the last financial year.
In the global market, US Treasury yields climbed on Wednesday after some countries revealed inflation data, which was higher than expected and increased fears that the upcoming May’s Personal Consumption Expenditure (PCE) Price Index report in the United States could come hot. Furthermore, U.S. crude oil futures rose Wednesday despite an unexpected increase in oil and gasoline inventories, which threatened to derail a recent rally.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 6.99% on Wednesday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.02% from its previous close of 7.01% on Wednesday.
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