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Bond yields trade higher on Monday

09 Dec 2024 Evaluate

Bond yields traded higher on Monday as Union Education Minister Dharmendra Pradhan asserted that India will become a $30 trillion-economy by 2047. Pradhan said that India, the fastest-growing global economy, is currently in the fifth position and will bag the third spot in the next three years.

In the global market, Treasury yields traded near the flatline on Friday as investors digested key payroll data that showed a solid picture of the labor market. Furthermore, Oil prices fell by more than 1% on Friday and cemented weekly losses as analysts projected a supply surplus next year on weak demand despite an OPEC+ decision to delay output hikes and extend deep production cuts to the end of 2026.

Back home, the yields on new 10 year Government Stock were trading 9 basis points higher at 6.83% from its previous close of 6.74% on Friday.

The benchmark five-year interest rates were trading 10 basis points higher at 6.77% from its previous close of 6.67% on Friday.

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