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Bond yields trade higher on Friday

06 Sep 2024 Evaluate

Bond yields traded higher on Friday amid Boston Consulting Group (BCG) in association with FICCI and the Indian Banks’ Association (IBA) in latest report titled ‘Banking for a Viksit Bharat’ has said that a 20-fold increase in the financial services sector is needed for India’s goal to achieve a $30 trillion Gross Domestic Product (GDP) by 2047.

In the global market, U.S. Treasury yields ticked lower on Thursday as Wall Street assessed the latest employment data and looked ahead to Friday’s August nonfarm payrolls report. Furthermore, oil prices edged up about 1% on Thursday on a bigger-than-expected withdrawal from U.S. inventories and a delay to output increases by OPEC+ producers after futures fell to multi-month lows in the prior session on Chinese demand concerns.

Back home, the yields on new 10 year Government Stock were trading 11 basis points higher at 6.96% from its previous close of 6.85% on Thursday.  

The benchmark five-year interest rates were trading 11 basis points higher at 6.86% from its previous close of 6.75% on Thursday.

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