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Bond yields trade flat on Wednesday

10 Jul 2024 Evaluate

Bond yields traded flat on Wednesday amid Reserve Bank of India (RBI) deputy governor Swaminathan J has said that the banking sector, which is at a decadal high in terms of financial parameters, is all set to support the growth of the Indian economy. He also said the RBI has undertaken several initiatives to enhance the effectiveness of the auditing process.

In the global market, treasury yields rose Tuesday as investors digested comments from Federal Reserve Chair Jerome Powell. Furthermore, oil prices eased more than 1% on Tuesday after traders learned that prolonged supply disruptions from Hurricane Beryl were unlikely after a U.S. oil-producing hub in Texas suffered less storm damage than feared.

Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 6.98% on Tuesday.

The benchmark five-year interest rates were trading 1 basis point lower at 6.97% from its previous close of 6.98% on Tuesday.

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