Bond yields traded higher on Thursday as Organisation for Economic Co-operation and Development (OECD) its new economic outlook has projected that India’s Gross Domestic Product (GDP) growth to be steady at just under 7% per year over 2024-2026, led by fixed investment, notably in manufacturing, amid rapid increases in public infrastructure spending.
In the global market, The U.S. 10-year Treasury dipped on Wednesday after newly released data showed that the economy may be slowing. Furthermore, Oil futures fell on Wednesday as investors awaited an imminent OPEC+ decision on production cuts, while a larger-than-expected draw in U.S. crude stockpiles last week lent some support to prices.
Back home, the yields on new 10 year Government Stock were trading 11 basis points higher at 6.79% from its previous close of 6.68% on Wednesday.
The benchmark five-year interest rates were trading 11 basis points higher at 6.72% from its previous close of 6.61% on Wednesday.
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