Bond yields trade higher on Monday
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Bond yields traded higher on Monday after growth of eight core infrastructure industries grew 3.1 percent in November 2021 as against 1.1 percent contraction in same month last year. In October 2021, these core sectors' output had grown by 8.4 percent. The Eight Core Industries - coal, crude oil, natural gas, refinery products, fertilizers, steel, cement and electricity - comprise 40.27 percent of the weight of items included in the Index of Industrial Production (IIP).
On the global front, benchmark 10-year Treasuries ended the year with the largest yield increase since 2013 as investors prepare for the likelihood that the Federal Reserve will raise rates as soon as May. Furthermore, oil prices rose as the market kicked off 2022 on a positive note, although concerns over demand waning due to rapidly spreading COVID-19 pandemic limited gains.
Back home, the yields on new 10 year Government Stock traded 1 basis point higher at 6.46% from its previous close of 6.45% on Friday.
The benchmark five-year interest rates were traded 1 basis point higher at 5.87% from its previous close of 5.86% on Friday.
