Bond yields edged higher on Monday, after minutes from the Monetary Policy Committee’s October meeting underscored a hawkish stance by the panel amid concerns about inflation.
In the global market, U.S. Treasury yields rose on Friday, with two-year yields reaching a near nine-year high, as investors reduced bond holdings on worries about more inflation and federal borrowing after the U.S. Senate passed a budget resolution. Furthermore, Oil prices rose over supply concerns in the Middle East and as the U.S. market showed further signs of tightening while demand in Asia keeps rising.
Back home, the yields on new 10 year Government Stock were trading 3 basis points higher at 6.79% from its previous close of 6.76% on Wednesday.
The benchmark five-year interest rates were trading 3 basis points higher at 6.69% from its previous close of 6.66% on Wednesday.