Bond yields traded lower on Friday despite commerce ministry has said that India and the United States (US) have concluded two-day trade talks, during which both sides exchanged their views on a wide range of items related to India-US trade and economic ties, including the ongoing negotiations for a mutually beneficial India-US Bilateral Trade Agreement.
In the global market, the yield on the 10-year Treasury dipped on Thursday as investors digested the Federal Reserve’s latest rate cut and weighed the state of the U.S. economy. Furthermore, oil prices fell on Thursday as investors shifted focus back to Russia-Ukraine peace talks and monitored potential fallout from a U.S. seizure of a sanctioned oil tanker off the coast of Venezuela.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 6.59% from its previous close of 6.61% on Thursday.
The benchmark five-year interest rates were trading 2 basis points lower at 6.27% from its previous close of 6.29% on Thursday.
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