Bond yields moved higher on Friday, with the old benchmark yield closing at a six-week high of 6.75% after Moody’s changed the outlook on India government’s ratings to ‘negative’ from ‘stable’. The yield on the new benchmark bonds — 6.45% yielding government securities maturing in 2029 — closed 5 basis points higher at 6.56%, hitting the highest level since they were launched in October this year.
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