Bond yields traded higher on Thursday as Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri has said that the free trade agreement (FTA) with the UK will help double India's ready-made garment exports to Britain in the next three years, despite of demand contraction in major economies owed to Russia-Ukraine conflict, Israel-Hamas war, American reciprocal tariff and Chinese belligerence, creating uncertainty and adversely disrupting the global trade.
In the global market, The benchmark 10-year Treasury yield fell on Wednesday after the Federal Reserve held interest rates steady, pointing to increasing uncertainty in the outlook for the U.S. economy. Furthermore, Oil prices fell on Wednesday, as the Federal Reserve sees growing economic uncertainty and investors look toward U.S.-China trade talks this weekend.
Back home, the yields on new 10 year Government Stock were trading 12 basis points higher at 6.45% from its previous close of 6.33% on Wednesday.
The benchmark five-year interest rates were trading 10 basis points higher at 6.14% from its previous close of 6.04% on Wednesday.