Bond yields traded higher on Thursday amid National Council of Applied Economic Research (NCAER) in its Monthly Economic Review for August has said that the Indian economy has remained resilient but the outlook seems softer due to moderation in a couple of high-frequency indicators.
In the global market, The U.S. 10-year Treasury was little changed on Wednesday as investors awaited a key U.S. inflation report due later in the week. Furthermore, oil prices settled 1% lower on Wednesday after a smaller-than-expected draw in U.S. crude stockpiles and as concerns over Chinese demand persisted, though losses were capped by supply risks in the Middle East and Libya.
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 Wednesday.
The benchmark five-year interest rates were trading 12 basis points higher at 6.89% from its previous close of 6.77% on Wednesday.
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