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Bond yields trade higher on Thursday

12 Dec 2024 Evaluate

Bond yields traded higher on Thursday despite Asian Development Bank (ADB) in its latest edition of Asian Development Outlook (ADO) has said that it lowered India’s economic growth forecast to 6.5 per cent for the current financial year (FY25) from its earlier estimate of 7 per cent due to lower-than-expected growth in private investment and housing demand.

In the global market, Treasury yields advanced on Wednesday after November’s consumer price index data matched expectations. Furthermore, oil prices settled more than $1 higher on Wednesday after the European Union agreed to an additional round of sanctions threatening Russian oil flows that could tighten global crude supplies.

Back home, the yields on new 10 year Government Stock were trading 13 basis points higher at 6.84% from its previous close of 6.71% on Wednesday.

The benchmark five-year interest rates were trading 13 basis points higher at 6.77% from its previous close of 6.64% on Wednesday.

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