Government bond yields fell on Friday amid rising expectations of a significant rate cut by the US Federal Reserve (Fed) next week, said dealers.
The probability of a 50 basis points (bps) rate cut by the US rate-setting panel rose to 43 per cent on Friday. This is against the earlier probability of 15 per cent, according to the CME Fed watch tool.
Yield on the benchmark 10-year government bond settled at 6.79 per cent, lowest since March 30, 2022. On Thursday, it settled at 6.81 per cent.
The benchmark yield fell to 6.78 per cent during the day; it gave up some gains by the end of the day as some traders wound up their positions ahead of the weekend, said dealers.
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