Bond yields traded higher on Wednesday as India and France have elevated their ties to a ‘special global strategic partnership’ with Prime Minister Narendra Modi and French President Emmanuel Macron undertaking significant ramp up of bilateral cooperation in areas of defence, trade and technology.
In the global market, 10-year Treasury yield was relatively unchanged on Tuesday as investors looked ahead to more delayed data releases during the holiday-shortened trading week. Furthermore, oil prices fell on Tuesday on hopes tensions between the United States and Iran were easing after Iran's foreign minister said the countries had reached an understanding on the main ‘guiding principles’ of their nuclear talks.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 6.67% from its previous close of 6.65% on Tuesday.
The benchmark five-year interest rates were trading 5 basis points higher at 6.45% from its previous close of 6.40% on Tuesday.