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Bond yield trade flat on Wednesday

22 Jun 2016 Evaluate

Bond yields were steady on Wednesday as investors remained cautious ahead of the crucial Brexit referendum that will decide whether Britain will stay in the European Union or not.

In the global market, US Treasury yields rose to one-and-a-half week highs on Tuesday after the Treasury saw soft demand for a sale of five-year notes and as investors evaluated whether Britain will vote to remain in the European Union on Thursday. Furthermore, Oil prices rose on Wednesday, with US crude joining Brent above $50 a barrel after data from the American Petroleum Institute (API) showed a larger than expected draw on stocks

Back home, the yields on new 10 year Government Stock were trading flat from its previous close at 7.49% on Tuesday.

The benchmark five-year interest rates were trading 1 basis point lower at 7.43% from its previous close at 7.44% on Tuesday.


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