Bond yields trade higher on Friday as Reserve Bank of India Deputy Governor M Rajeshwar Rao said Indian financial system looks stronger than in the past and the country's economy is an outlier even as strong headwinds globally. Investors continued keeping close eye on earning reactions.
In the global market, the yield on the 10-year Treasury note declined Thursday as investors sifted through a batch of economic data and prepared for next week’s Federal Reserve meeting. Furthermore, Oil prices settled higher on Thursday after strong U.S. economic data stoked expectations for higher crude demand, but the gains were limited by concerns about lower oil imports from China.
Back home, the yields on new 10 year Government Stock were trading 5 basis points higher at 7.05% from its previous close of 6.95% on Thursday.
The benchmark five-year interest rates were trading 8 basis points higher at 6.96% from its previous close of 6.88% on Thursday.