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Bond yields trade higher on Wednesday

28 Aug 2024 Evaluate

Bond yields traded higher on Wednesday as private report stated that Foreign direct investment (FDI) in India's real estate, fintech, and semiconductor sectors is expected to surge three-fold in the financial year 2024-25.

In the global market, U.S. Treasury yields rose on Tuesday, as investors assessed the likelihood that the U.S. economy will be able to avoid a recession and awaited a two-year note auction for signs of investor demand. Furthermore, oil prices dropped on Tuesday as investors weighed geopolitical risks as well as impending Nvidia earnings and U.S. inflation data.

Back home, the yields on new 10 year Government Stock were trading 12 basis points higher at 6.98% from its previous close of 6.86% on Tuesday.

The benchmark five-year interest rates were trading 11 basis points higher at 6.89% from its previous close of 6.78% on Tuesday.

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