Bond yields edged lower on Thursday after the U.S. Federal Reserve kept interest rates unchanged, as expected, but hinted it could tighten monetary policy by the end of this year.
In the global market, U.S. Treasury yields fell on Wednesday after the Federal Reserve downgraded its economic growth forecast and lowered its projection for interest rate levels needed to support expansion. Furthermore, oil prices extended gains from the previous session after a surprise third consecutive weekly U.S. crude inventory draw tightened the market.
Back home, the yields on new 10 year Government Stock were trading 6 basis points lower at 6.98% from its previous close of 7.04% on Wednesday.
The benchmark five-year interest rates were trading 5 basis points lower at 6.90% from its previous close of 6.95% on Wednesday.