Bond yields traded higher on Friday after Union Minister of Commerce & Industry, Piyush Goyal has said that India is entering the Amrit Kaal with strong macroeconomic fundamentals. The next 25 years will be a defining period for India. He said ‘Our startups will play a crucial role in realising the vision of a self-reliant, inclusive, and globally competitive India.
In the global market, U.S. Treasury yields slipped Thursday as inflation fears waned and comments from a Federal Reserve official raised hopes for multiple rate cuts this year. Furthermore, Oil prices fell on Thursday with Yemen's Houthi militia expected to halt attacks on ships in the Red Sea, and investors weighed strong U.S. retail data.
Back home, the yields on new 10 year Government Stock were trading 12 basis points higher at 6.87% from its previous close of 6.75% on Thursday.
The benchmark five-year interest rates were trading 13 basis points higher at 6.82% from its previous close of 6.69% on Thursday.