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Bond yields traded higher on Thursday after Federation of Indian Export Organisations (FIEO) has said that the country’s exports are expected to register healthy growth rate in the next financial year (FY23) might touch $530 billion as exporters are flushed with orders. FIEO further stated that additional exports will come from some of the PLI (production-linked incentive) sectors in the next fiscal.

In the global market, longer dated U.S. Treasury yields rose to the highest level in about a month Wednesday, with investors seeing only limited economic impact from the omicron variant of COVID, given evidence suggesting it produces milder symptoms than earlier strains.

Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.47% from its previous close of 6.46% on Wednesday.

The benchmark five-year interest rates were trading 1 basis point higher at 5.87% from its previous close of 5.86% on Wednesday.