Bond yields steady on Thursday

Bond yields traded flat on Thursday as investors largely stay on the sidelines in the absence of any fresh triggers. Investors failed to get support with the statement of S Iswaran, Minister of Trade and Industry, Singaporean that India is projected to be the world's fastest growing major economy this year.

In the global markets, U.S. Treasury yields fell on Wednesday after the Federal Reserve struck adovish tone in acknowledging recent market volatility, but maintained another wise upbeat view of the U.S. economy. Furthermore, U.S. crude futures dropped more than 1 percent in Asian trading on Thursday, paring gains of nearly 3 percent made in the previous session after Russia held out the possibility of cooperating with OPEC to control global oversupply.

Back home, the yields on new 10 year Government Stock were trading flat from its previous close at 7.78% on Wednesday.

The benchmark five-year interest rates were trading 1 basis point lower at 7.63% from its previous close at 7.64% on Wednesday.