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Bond yields trade higher on Friday

27 Oct 2017 Evaluate

Bond yields edged higher on Friday, as investors remained cautious ahead of a weekly supply of notes.

In the global market, U.S. Treasury yields inched higher on Thursday in choppy trading, undermined by a soft auction of U.S. 7-year notes which saw demand at its weakest since August last year. Furthermore, oil prices inched up, with Brent crude approaching $60 a barrel, amid tightening market expectations buoyed by comments from Saudi Arabia's Crown Prince backing the extension of OPEC-led output cuts.

Back home, the yields on new 10 year Government Stock were trading 3 basis points higher at 6.83% from its previous close of 6.80% on Thursday.

The benchmark five-year interest rates were trading 3 basis points higher at 6.73% from its previous close of 6.70% on Thursday.

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