Bond yields traded flat on Friday amid NITI Aayog member Arvind Virmani has said that the India’s gross domestic product (GDP) will grow around 7 per cent in the current fiscal year (FY25) and is on track to maintain a similar growth rate for several years.
In the global market, U.S. Treasury yields dropped on Thursday after U.S. data showed consumer prices in the world's largest economy slipped last month, reinforcing expectations that the Federal Reserve will start cutting interest rates in September. Furthermore, oil prices rose for the second consecutive session on Thursday with the Brent benchmark settling above $85 a barrel as hopes rose for U.S. interest rate cuts after data showed an unexpected slowdown in inflation.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 6.98% on Thursday.
The benchmark five-year interest rates were trading flat with its previous close of 6.98% on Thursday.