Bond yields traded higher on Thursday as Global Trade Research Initiative (GTRI) has said that essential and strategic items such as pharmaceuticals, semiconductors, copper, and energy products like oil, gas, coal and LNG are exempted from the 27 per cent import duty announced by the US. Overall, it said that the USA's protectionist tariff regime could act as a catalyst for India to gain from global supply chain realignments.
In the global market, U.S. Treasury yields advanced on Wednesday as investors parsed some economic data and braced for the rollout of U.S. President Donald Trump’s tariffs. Furthermore, oil prices steadied on Wednesday after falling in the previous session on concerns new U.S. tariffs set to be unveiled later in the day may deepen a global trade war that could limit crude demand.
Back home, the yields on new 10 year Government Stock were trading 12 basis points higher at 6.60% from its previous close of 6.48% on Wednesday.
The benchmark five-year interest rates were trading 10 basis points higher at 6.46% from its previous close of 6.36% on Wednesday.
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