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Bond yields trade higher on Tuesday

10 Sep 2024 Evaluate

Bond yields traded higher on Tuesday as the Goods and Services Tax (GST) Council in its 54th meeting has made various recommendations relating to changes in GST tax rates, measures for facilitation of trade and measures for streamlining compliances in GST.

In the global market, Treasury yields retreated from session highs Monday as investors await US inflation data later this week for further clues on how much the Federal Reserve will cut interest rates this year.  Oil prices rose about 1% on Monday on concerns that a hurricane forecast to hit Louisiana on Wednesday will disrupt production and refining along the U.S. Gulf Coast.

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 Monday.

The benchmark five-year interest rates were trading 11 basis points higher at 6.85% from its previous close of 6.74% on Monday.

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