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Bond yields trade marginally higher on Thursday

07 Sep 2017 Evaluate

Bond yields edged marginally higher on Thursday, tracking overnight gains in U.S. Treasury yields, as investors awaited a weekly auction tomorrow.

In the global market, U.S. Treasury yields rose on Wednesday as a congressional fiscal plan that includes a three-month suspension of the debt ceiling gained support from President Donald Trump, reducing safe-haven demand among investors worried about a short-term default. Furthermore, Oil prices held steady, supported by rising demand from the United States where Gulf Coast refineries are restarting in the wake of Hurricane Harvey.

Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.52% from its previous close of 6.51% on Wednesday.

The benchmark five-year interest rates were trading flat at its previous close at 6.51% on Wednesday.