Bond yields traded higher on Friday as traders took support after Commerce and Industry Minister Piyush Goyal said that India's services exports are registering healthy growth rates and the sector should aspire to reach $450 billion in exports, overtaking merchandise shipments, in the next financial year.
In the global market, U.S. Treasury yields dipped on Thursday as investors weighed the state of the U.S. economy a day after the Federal Reserve held interest rates steady. Furthermore, oil prices rose on Thursday after the United States issued new Iran-related sanctions and renewed tensions in the Middle East countered strength in the dollar.
Back home, the yields on new 10 year Government Stock were trading 09 basis points higher at 6.73% from its previous close of 6.64% on Thursday.
The benchmark five-year interest rates were trading 08 basis points higher at 6.61% from its previous close of 6.53% on Thursday.
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