Bond yields traded higher on Thursday as traders took support with private report stating that with India experiencing strong economic growth, the Reserve Bank of India (RBI) is unlikely to announce any rate cuts in its upcoming monetary policy meeting.
In the global market, U.S. Treasury yields were higher on Wednesday as investors considered the state of the U.S. economy and eyed the latest developments in the Middle East. Furthermore, oil prices rose for a third consecutive day, reaching towards $75 a barrel, after Israel and the US vowed at retribution towards Iran.
Back home, the yields on new 10 year Government Stock were trading 14 basis points higher at 6.87% from its previous close of 6.73% on Tuesday.
The benchmark five-year interest rates were trading 14 basis points higher at 6.80% from its previous close of 6.66% on Tuesday.