Bond yields traded higher on Friday as Commerce and Industry Minister Piyush Goyal said the implementation process of free trade agreement (FTA) between India and the four-nation European bloc EFTA is progressing fast and is expected to come into force before the end of this year.
In the global market, Treasury yields were trading lower Thursday morning, as investors assessed an unexpected drop in weekly jobless claims. Furthermore, oil prices settled up by more than $1 a barrel on Thursday as investors returned for the first trading day of 2025 with an optimistic eye on China's economy and fuel demand after a pledge by President Xi Jinping to promote growth.
Back home, the yields on new 10 year Government Stock were trading 11 basis points higher at 6.89% from its previous close of 6.78% on Thursday.
The benchmark five-year interest rates were trading 12 basis points higher at 6.83% from its previous close of 6.71% on Thursday.
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