Bond yields traded higher on Thursday as T.K. Ramachandran, Secretary, Ministry of Ports, Shipping and Waterways, Government of India, has said that India has become the fourth-largest economy, having surpassed $4 trillion and is witnessing a rapid surge in foreign investments.
In the global market, U.S. Treasury yields were lower on Wednesday after most Federal Reserve officials indicated they see rate cuts coming. Furthermore, oil prices were steady on Wednesday as investors weighed a surprise build in U.S. crude stocks last week against attacks on shipping in the Red Sea and a forecast for lower U.S. oil production.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.32% from its previous close of 6.31% on Wednesday.
The benchmark five-year interest rates were trading 3 basis points higher at 6.10% from its previous close of 6.07% on Wednesday.
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