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Bond yields trade higher on Wednesday

09 Oct 2024 Evaluate

Bond yields traded higher on Wednesday amid Reserve Bank of India (RBI) changed the policy stance to 'Neutral' from 'Withdrawal of Accomodation'. It also kept its key repo rate unchanged at 6.5 per cent for a tenth straight policy.

In the global market, U.S. Treasury yields shifted lower Tuesday, reversing course after the rate on the 10-year note hit its highest level in more than two months. Furthermore, Oil prices slid on Tuesday, settling down more than 4% on news of a possible ceasefire between Hezbollah and Israel, although prices found some support on fears of a potential attack on Iranian oil infrastructure. 

Back home, the yields on new 10 year Government Stock were trading 7 basis points higher at 6.87% from its previous close of 6.80% on Tuesday.

The benchmark five-year interest rates were trading 7 basis points higher at 6.79% from its previous close of 6.72% on Tuesday.

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