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Bond yields trade higher on Wednesday

04 Sep 2024 Evaluate

Bond yields traded higher on Wednesday as India’s services sector activity expanded in the month of August to the greatest extent since March as growth of incoming new business ticked higher.

In the global market, US Treasury yields mostly fell on Tuesday as the manufacturing sector continued to show signs of struggle. Furthermore, Oil prices dropped more than 4% on Tuesday to their lowest levels in nearly nine months after reports that a deal was imminent to resolve a dispute that has halted Libyan production and exports.

Back home, the yields on new 10 year Government Stock were trading 10 basis points higher at 6.97% from its previous close of 6.87% on Tuesday.

The benchmark five-year interest rates were trading 10 basis points higher at 6.87% from its previous close of 6.77% on Tuesday.

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