Bond yields traded higher on Friday as India's manufacturing sector growth improved in the month of April, with output increasing at the fastest pace since June 2024 on the back of another strong expansion in order books. Besides, total sales were supported by the second-fastest upturn in international orders since March 2011.
In the global market, U.S. Treasury yields edged lower on Thursday as investors weighed GDP figures for the first quarter, which showed a much-dreaded contraction in the U.S. economy. Furthermore, oil prices edged higher on Thursday, steadying slightly after sharp losses on the previous day driven by signs Saudi Arabia could produce more, and as the U.S. economy contracted in the first quarter.
Back home, the yields on new 10 year Government Stock were trading 10 basis points higher at 6.45% from its previous close of 6.35% on Wednesday.
The benchmark five-year interest rates were trading 09 basis points higher at 6.17% from its previous close of 6.08% on Wednesday.