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Bond yields trade higher on Friday

04 Oct 2024 Evaluate

Bond yields traded higher on Friday even after HSBC final India Services purchasing managers' index, compiled by S&P Global, fell to 57.7 in September from a five-month high of 60.9 in August and was below a preliminary estimate of 58.9. Growth in India's dominant services sector remained robust but slackened to a 10-month low in September as demand slowed.

In the global market, U.S. Treasury yields advanced on Thursday as investors looked to the latest labor market insights and considered the state of the economy. Furthermore, Oil prices surged on Thursday as concerns mounted that a widening regional conflict in the Middle East could disrupt global crude flows.

Back home, the yields on new 10 year Government Stock were trading 16 basis points higher at 6.93% from its previous close of 6.77% on Thursday.  

The benchmark five-year interest rates were trading 14 basis points higher at 6.83% from its previous close of 6.69% on Thursday.

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