Bond yields traded marginally lower on Thursday as India's wholesale price index (WPI) inflation accelerated further in the month of April 2026 to 8.30% as compared to 3.88% in March 2026, due to a sharp rise in the prices of crude petroleum, natural gas and mineral oils amid geopolitical conflict in West Asia affecting supply chains through the Strait of Hormuz.
In the global market, U.S. Treasury yields moved higher on Wednesday as investors digested the implications of hotter-than-expected wholesale prices in April. Furthermore, oil prices ticked lower in on Thursday as U.S. President Donald Trump and Chinese counterpart Xi Jinping struck a conciliatory tone at the Beijing summit, while investors looked for potential clues on the Iran conflict outlook.
Back home, the yields on new 10 year Government Stock were trading 01 basis point lower at 7.03% from its previous close of 7.04% on Wednesday.
The benchmark five-year interest rates were trading 02 basis points higher at 6.85% from its previous close of 6.83% on Wednesday.