Bond yields trade higher on Thursday

12 Sep 2024 Evaluate

Bond yields traded higher on Thursday as Finance Minister Nirmala Sitharaman said the Union government is implementing various schemes to encourage the growth and development of MSME (Micro, Small and Medium Enterprises) sector across the country.

In the global market, Treasury yields gained on Wednesday as Wall Street assessed a mixed consumer price index report and its implications for the Federal Reserve’s rate move next week. Furthermore, Oil prices climbed more than 2% on Wednesday, driven by fears of lengthy production shutdowns in the U.S. offshore oil patch, which Hurricane Francine was barreling through on the way to landfall in Louisiana. 

Back home, the yields on new 10 year Government Stock were trading 11 basis points higher at 6.94% from its previous close of 6.83% on Wednesday.

The benchmark five-year interest rates were trading 11 basis points higher at 6.83% from its previous close of 6.72% on Wednesday.

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