Bond yields edge lower on Tuesday
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Bond yields edged lower on Tuesday after Ministry of Statistics and Programme Implementation in its latest data has showed that industrial production of India, measured in terms of the Index of Industrial Production (IIP), contracted by 4 per cent in October 2022, mainly due to a decline in the manufacturing sector output and subdued growth in mining and power generation.
In the global market, U.S. Treasury yields rose on Monday as investors awaited the start of the Federal Reserve’s December meeting and consumer inflation figures due to be released this week. Furthermore, Oil prices gained on Monday on supply jitters, as a key pipeline supplying the United States closed and Russia threatened a production cut even as China's loosening COVID-19 restrictions bolstered the fuel demand outlook.
Back home, the yields on new 10 year Government Stock were trading 3 basis points lower at 7.26% from its previous close of 7.29% on Monday.
The benchmark five-year interest rates were trading 3 basis points lower at 7.13% from its previous close of 7.16% on Monday.
