Bond yields traded higher on Monday as RBI said that India's forex reserves increased by $1.567 billion to $677.835 billion for the week ended April 11. This is the sixth consecutive week of a rise in the kitty.
In the global market, the 10-year U.S. Treasury yield advanced on Thursday as investors weighed the state of the U.S. economy after Federal Reserve Chair Jerome Powell raised concerns about the inflationary and economic growth risks of the White House’s tariffs. Furthermore, Oil prices settled more than 3% higher on Thursday, supported by hopes for a trade deal between the United States and the European Union and new U.S. sanctions to curb Iranian oil exports, which continued to elevate supply concerns.
Back home, the yields on new 10 year Government Stock were trading 07 basis points higher at 6.44% from its previous close of 6.37% on Thursday.
The benchmark five-year interest rates were trading 06 basis points higher at 6.16% from its previous close of 6.10% on Thursday.
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