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Bond yields trade higher on Monday

30 Oct 2017 Evaluate

Bond yields edged higher on Monday, as the central bank announced yet another open market sale next month.

In the global market, U.S. Treasury yields fell on Friday as Catalonia's parliament declared independence from Spain and as reports emerged that President Donald Trump favored Federal Reserve Governor Jerome Powell to lead the U.S. central bank. Furthermore, Oil markets were stable, with Brent remaining above $60 per barrel supported by expectations that an OPEC-led production cut due to expire next March would be extended.

Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 6.83% from its previous close of 6.81% on Friday.

The benchmark five-year interest rates were trading 1 basis point higher at 6.73% from its previous close of 6.72% on Friday.