Bond yields traded higher on Thursday with Agricultural and Processed Food Products Export Development Authority (APEDA) Chairman Abhishek Dev’s statement that Indian exporters have huge opportunities to increase their share in the global agriculture trade from the current 2.4 per cent. The global agriculture trade is about $2 trillion.
In the global market, 10-year Treasury yield on Wednesday rose to its highest since April after the latest Federal Reserve meeting minutes indicated greater concern over inflation. Investors also digested this week's strong economic data. Furthermore, Oil prices trimmed earlier gains on Wednesday as the dollar strengthened but continued to find support from a tightening of supplies from Russia and other OPEC members and a drop in U.S. crude stocks.
Back home, the yields on new 10 year Government Stock were trading 13 basis points higher at 6.89% from its previous close of 6.76% on Wednesday.
The benchmark five-year interest rates were trading 12 basis points higher at 6.82% from its previous close of 6.70% on Wednesday.
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