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Bond yields trade higher on Tuesday

08 Oct 2024 Evaluate

Bond yields traded higher on Tuesday with Commerce and Industry Minister Piyush Goyal’s statement that India is poised to attract $100 billion in investments from the United Arab Emirates in the coming years.

In the global market, 10-year Treasury yield rebounded on Monday amid stronger labor market readings and despite the start of a Federal Reserve rate-cutting campaign last month.  Furthermore, oil prices settled more than 3% higher on Monday, with Brent surpassing $80 per barrel for the first time since August as the increased risk of a region-wide Middle East war jolted investors out of record bearish positions amassed last month.

Back home, the yields on new 10 year Government Stock were trading 10 basis points higher at 6.94% from its previous close of 6.84% on Monday.

The benchmark five-year interest rates were trading 10 basis points higher at 6.85% from its previous close of 6.75% on Monday.

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