Bond yields traded higher on Thursday as traders awaited the Reserve bank of India’s (RBI) interest-rate decision on Friday. The Monetary Policy Committee (MPC) of the RBI began its three-day meeting on Wednesday.
In the global market, U.S. Treasury yields slid on Wednesday after the U.S. government said it won’t be stepping up its debt issuance and amid fresh signs of a solid labor market. Furthermore, Oil prices edged higher in Asian trading on Thursday after sharp declines overnight as traders cautiously assessed escalating U.S.-China trade tensions, while data showing higher U.S. crude stockpiles reflected weak demand.
Back home, the yields on new 10 year Government Stock were trading 10 basis points higher at 6.76% from its previous close of 6.66% on Wednesday.
The benchmark five-year interest rates were trading 11 basis points higher at 6.69% from its previous close of 6.58% on Wednesday.