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Bond yields trade higher on Thursday

14 Nov 2024 Evaluate

Bond yields traded higher on Thursday despite Inflation based on wholesale price index (WPI) in India jumped in the month of October 2024 to 2.36% from 1.84% in September 2024, due to increase in prices of food articles, crude petroleum & natural gas and electricity.

In the global market, 10-year Treasury yield was little changed Wednesday as investors assessed a key inflation reading that came in as expected. Furthermore, oil prices rebounded slightly on Wednesday on short-covering a day after they fell near a two-week low on OPEC's reduced demand forecast, but gains were limited as the dollar hit a seven-month high.

Back home, the yields on new 10 year Government Stock were trading 13 basis points higher at 6.93% from its previous close of 6.80% on Wednesday.

The benchmark five-year interest rates were trading 14 basis points higher at 6.91% from its previous close of 6.77% on Wednesday.


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