Bond yields edged lower on Thursday after the U.S. Federal Reserve raised interest rates yesterday, as expected, but stuck to its earlier guidance on further monetary tightening this year.
In the global market, U.S. Treasury yields plummeted after the Federal Reserve raised interest rates for the second time in three months as expected, but did not flag any plan to accelerate the pace of monetary tightening. Furthermore, crude oil prices rose in early Asian trading, extending gains from the previous session after official data showed U.S. stockpiles had eased from record highs.
Back home, the yields on new 10 year Government Stock were trading 4 basis points lower at 6.79% from its previous close of 6.83% on Wednesday.
The benchmark five-year interest rates were trading flat at its previous close at 7.07% on Wednesday.