Bond yields traded higher on Wednesday despite India’s retail inflation based on Consumer Price Index (CPI) rose to a 14-month high of 6.21 percent in October 2024, as food inflation galloped on the back of rising vegetable prices.
In the global market, U.S. Treasury yields jumped on Tuesday as investors digested what President-elect Donald Trump’s victory could mean for rates. Traders also awaited key inflation readings due later this week. Furthermore, oil prices held near a two-week low on Tuesday after dropping about 5% over the past two sessions as investors absorbed OPEC's latest downward revision for demand growth, a stronger U.S. dollar and disappointment over China's latest stimulus plan.
Back home, the yields on new 10 year Government Stock were trading 12 basis points higher at 6.91% from its previous close of 6.79% on Tuesday.
The benchmark five-year interest rates were trading 12 basis points higher at 6.89% from its previous close of 6.77% on Tuesday.
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