Indian government bond yields declined on Thursday as oil prices and U.S. Treasury yields continued their slide, pushing the 10-year rate to a five-week low.
The 10-year benchmark bond yield was at 7.2530% as of 10:00 a.m. IST, after ending the previous session at 7.2711%. Earlier in the day, it hit 7.2399%, the lowest since Oct. 6.
"The move has now completely turned in favour of the bulls, and hence we are seeing new lows getting tested everyday," a trader with a state-run bank said.
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