Bond yields traded higher on Wednesday despite India’s services sector growth eased in the month of November, impacted by slowdown in new orders and output along with prices pressures. Input costs rose to the greatest extent in 15 months, while selling prices increased at the fastest rate in close to 12 years.
In the global market, The benchmark U.S. 10-year Treasury ticked higher on Tuesday as investors mulled over recent job openings data. Furthermore, Oil prices rose more than 1.5% on Tuesday as investors await an OPEC+ meeting expected to rubber stamp continued output cuts while a fragile ceasefire between Israel and Lebanon provided additional support.
Back home, the yields on new 10 year Government Stock were trading 8 basis points higher at 6.79% from its previous close of 6.71% on Tuesday.
The benchmark five-year interest rates were trading 09 basis points higher at 6.72% from its previous close of 6.63% on Tuesday.
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