Bond yields remain steady on Tuesday

Bond yields were trading steady on Thursday as market awaits fresh triggers. Investors fail to get relief with Moody’s Investors Services projection for stable growth rate for India which stated that the economy would grow at 7.5 percent in the current fiscal and improve marginally in the following year.

In the global market, Benchmark 10-year Treasury yields hit their highest level in over five weeks on Monday, while shorter-dated yields reached their highest in over six weeks on expectations of a likely Federal Reserve interest rate hike in December. Furthermore, U.S. crude futures edged up early on Tuesday, but the market outlook remains bearish as supply still exceeds demand and due to worries the dollar will strengthen when the U.S. Federal Reserve eventually raises interest rates.

Back home, the yields on new 10 year Government Stock were trading flat from its previous close at 7.62% on Monday.

The benchmark five-year interest rates were trading flat from its previous close at 7.66% on Monday.

The Reserve Bank of India has announced the auction of 91-days and 182-days Government of India Treasury Bills for notified amount of Rs 8,000 crore and Rs 6,000 crore respectively. The auction will be conducted on November 04, 2015 using 'Multiple Price Auction' method.