Bond yields trade higher on Friday after the finance ministry, in the monthly economic report for July, maintained a positive stance on the economy, keeping the growth forecast at 6.5-7 per cent for the current financial year (2024-25/FY25).
In the global market, The U.S. 10-year Treasury fell slightly on Friday as investors awaited remarks from Federal Reserve Chair Jerome Powell at the annual Jackson Hole symposium. Furthermore, oil prices rose on Thursday, as expectations for a U.S. interest rate cut in a few weeks fueled a rebound after four days of price declines.
Back home, the yields on new 10 year Government Stock were trading 12 basis points higher at 6.97% from its previous close of 6.85% on Thursday.
The benchmark five-year interest rates were trading 12 basis points higher at 6.89% from its previous close of 6.77% on Thursday.
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