Bond yields traded higher on Thursday as RBI March Bulletin said that India’s sound fiscal policies, a well-calibrated monetary framework, and digital transformation initiatives are expected to provide a strong foundation for long-term sustainable economic growth.
In the global market, U.S. Treasury yields edged lower on Wednesday after the Federal Reserve kept benchmark interest rates unchanged but downgraded its collective outlook for economic growth while raising its inflation forecast. Furthermore, oil prices rose slightly on Wednesday following U.S. government data that revealed a drop in fuel inventories, while investors remained focused on a temporary ceasefire in Ukraine.
Back home, the yields on new 10 year Government Stock were trading 09 basis points higher at 6.74% from its previous close of 6.65% on Wednesday.
The benchmark five-year interest rates were trading 07 basis points higher at 6.64% from its previous close of 6.57% on Wednesday.
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