Bond yields traded higher on Thursday as the market continued to digest the Reserve Bank of India’s rate hike and rising global yields.
In the global market, the yields on key U.S. Treasury bonds touched fresh 24-year highs Wednesday as the latest global bond sell-off picked up steam. Furthermore, Oil prices climbed on Thursday following reports of more attacks on commercial shipping in the Middle East, while markets also braced for supply disruptions from adverse weather along the U.S. Gulf coast.
Back home, the yields on new 10-year Government Stock were trading 2 basis points higher at 7.26% from its previous close of 7.24% on Wednesday.
The benchmark five-year interest rates were trading 3 basis points higher at 7.02% from its previous close of 6.99% on Wednesday.