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Bond yields trade higher on Wednesday

16 Oct 2024 Evaluate

Bond yields traded higher on Wednesday as private report stated that India’s trade deficit narrowed to a five-month low of $20.8 billion in September from $29.7 billion a month back s merchandise export growth turned positive for the first time in three months. 

In the global market, the 10-year U.S. Treasury yield fell on Tuesday as bond traders kicked off a shortened trading week. Furthermore, oil prices fell early on Tuesday morning as fears faded of Israel striking Iranian oil facilities and traders refocused on growing demand concerns.

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 Tuesday.

The benchmark five-year interest rates were trading 11 basis points higher at 6.79% from its previous close of 6.68% on Tuesday.

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