Business

Bond yields harden 10 bps to 6.68%

Yields on sovereign bonds hardened on Wednesday, on rising oil prices and higher U.S. treasury yields.

The yield on the 10-year benchmark government bond ended at 6.68% on Wednesday compared to its previous close of 6.58%.

Brent crude futures, the global oil benchmark, rose 0.93% to trade at $62.96 per barrel.

Rising oil prices could impact the country’s fiscal deficit adversely.

Bonds yields hardened despite the dovish stance of the Reserve Bank of India, which had maintained that supporting growth would be its top priority.

Meanwhile, the rupee ended 5 paise higher against the dollar at 71.66 — the fifth straight session of gain.

The Indian currency was able to cut early losses after equities gained and on the back of strong Asian currencies.

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Printable version | May 25, 2020 10:57:58 AM | https://www.thehindu.com/business/bond-yields-harden-10-bps-to-668/article29394763.ece

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