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Bond yields trade flat on Thursday

11 Jul 2024 Evaluate

Bond yields traded flat on Thursday amid labour ministry has said that retail inflation for industrial workers eased to 3.86 per cent in May 2024 compared to 4.42 per cent in the same month a year ago. The All-India CPI-IW for May 2024 increased by 0.5 points and stood at 139.9 points. It was 139.4 points in April 2024.

In the global market, U.S. Treasury yields edged down on Wednesday with comments from Federal Reserve Chair Jerome Powell fuelling hopes for interest rate cuts as investors awaited key U.S. inflation data. Furthermore, Oil prices settled higher on Wednesday after a jump in U.S. refining activity last week drove a larger-than-expected decline in gasoline and crude inventories, but gains were capped due to minimal supply disruptions from Hurricane Beryl.

Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 6.97% on Wednesday.

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

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