Bond yields traded higher on Thursday as Prime Minister Narendra Modi welcomed the agreement over the first phase of US President Donald Trump's Gaza peace plan and expressed hope for ‘lasting peace’.
In the global market, U.S. Treasury yields were flat Wednesday as the government shutdown continued and the minutes from the September Federal Reserve meeting showed some indecision over the pace of future rate cuts. Furthermore, oil prices rose more than 1% to a one-week high on Wednesday as traders expected a lack of progress on a Ukraine peace deal to keep sanctions in place against Moscow and a weekly report showed an increase in U.S. oil consumption.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.51% from its previous close of 6.50% on Wednesday.
The benchmark five-year interest rates were trading 2 basis points higher at 6.12% from its previous close of 6.10% on Wednesday.
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