Bond yields traded higher on Thursday after the Reserve Bank of India’s (RBI) forward looking survey stated that consumer confidence improved in the September 2024 Survey round compared to the previous round in July due to better perceptions about the general economic, employment, and income conditions. Current situation index (CSI) improved by 0.8 points to 94.7 though it remained below the threshold level of 100.
In the global market, U.S. Treasury yields ticked higher on Wednesday as investors digested meeting minutes from the Federal Reserve and geared up for inflation data. Furthermore, Oil prices fell on Wednesday after U.S. data showed rising crude inventories, but losses were limited by the risk of Iranian supply disruptions caused by the Middle East conflict and Hurricane Milton in the U.S.
Back home, the yields on new 10 year Government Stock were trading 12 basis points higher at 6.88% from its previous close of 6.76% on Wednesday.
The benchmark five-year interest rates were trading 12 basis points higher at 6.80% from its previous close of 6.68% on Wednesday.
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