Bond yields edged lower on Thursday, on sustained demand from corporates and banks. However, gains were limited as investors remained cautious ahead of a fresh supply of notes today and tomorrow.
In the global market, U.S. Treasury yields edged higher on Wednesday with the yield curve close to its flattest level in a decade, as investors reduced their existing bond holdings to make room for this week's government and corporate bond supply. Furthermore, oil prices held steady after falling late in the previous session, supported by ongoing supply cuts led by OPEC and Russia.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 6.93% from its previous close of 6.94% on Wednesday. .
The benchmark five-year interest rates were trading 1 basis point lower at 6.76% from its previous close of 6.77% on Wednesday.