Bond yields traded higher on Wednesday with International Monetary Fund’s statement that India is projected to grow at 6.4 per cent in fiscal year 2025 and 2026, and the country's stable growth is driven by a reform momentum supporting robust consumption growth and a push for public investment.
In the global market, U.S. Treasury yields fell on Tuesday, one day before the Federal Reserve’s interest rate decision and Chairman Jerome Powell’s press conference. Furthermore, oil prices gained more than 3% on Tuesday as President Donald Trump ramped up pressure on Russia over its war in Ukraine and on optimism that a trade war between the U.S. and its major trading partners was abating.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.37% from its previous close of 6.36% on Tuesday.
The benchmark five-year interest rates were trading 8 basis points higher at 6.16% from its previous close of 6.08% on Tuesday.
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