Bond yields traded higher on Thursday as the seasonally adjusted HSBC India Services PMI Business Activity Index grew to 60.4 in June from 58.8 in May. The HSBC India Composite PMI Output Index -- which measures both manufacturing and services -- also surged to 61.0 in June as against 59.3 in May.
In the global market, the 10-year U.S. Treasury yield rose on Wednesday as investors digested weak data for the jobs market and weighed the impact of President Donald Trump’s tax-and-spending package, which narrowly passed the Senate on Tuesday. Furthermore, oil futures rose on Wednesday as Iran suspended cooperation with the U.N. nuclear watchdog but a surprise build in U.S. crude supplies limited gains.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.29% from its previous close of 6.28% on Wednesday.
The benchmark five-year interest rates were trading 1basis points higher at 6.08% from its previous close of 6.07% on Wednesday.
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