The yield on the 10-year benchmark government bond decreased to 6.86% for the week ended March 17 compared to 6.90% in the previous week.
Call money rates increased to 6.03% last week, as liquidity surplus narrowed after the advance tax payments.
Indian government bond prices rose by 0.57% on the back of upbeat economic data. Bond prices and yields move in the opposite direction. Further, yields declined after the US Federal Reserve increased its key rate by 0.25% and maintained its projection of gradual rate hikes for this year.
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