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Bond yields trade higher on Monday

04 Nov 2024 Evaluate

Bond yields traded higher on Monday as India's manufacturing sector regained growth momentum in the month of October, fuelled by faster increases in total new orders and international sales.

In the global market, yield on the 10-year Treasury rose as traders downplayed October jobs data showing meager job growth that was hurt by hurricanes and striking workers, and was far below what Wall Street was expecting. Furthermore, Oil prices edged up on Friday on reports Iran was preparing a retaliatory strike on Israel from Iraq in coming days, but record U.S. output weighed on prices.

Back home, the yields on new 10 year Government Stock were trading 7 basis points higher at 6.91% from its previous close of 6.84% on Thursday.

The benchmark five-year interest rates were trading 10 basis points higher at 6.88% from its previous close of 6.77% on Thursday.

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