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Bond yields trade higher on Monday

23 Sep 2024 Evaluate

Bond yields traded higher on Monday as Reserve Bank of India’s (RBI) in its latest data has indicated that India's net foreign direct investment (FDI) rose to $5.5 billion during the April-July period of the current financial year (FY25) as compared to $3.8 billion in the same period last year.

In the global market U.S. Treasury yields were lower on Friday after lower-than-expected jobless claims seemed to bolster investor sentiment. Furthermore, oil prices settled lower on Friday but recorded a second straight week of gains, garnering support from a U.S. interest rate cut and a dip in U.S. supply.

Back home, the yields on new 10 year Government Stock were trading 11 basis points higher at 6.87% from its previous close of 6.76% on Friday.

The benchmark five-year interest rates were trading 11 basis points higher at 6.79% from its previous close of 6.68% on Friday.

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