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Bond yields trade higher on Friday

24 Nov 2017 Evaluate

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

In the global market, U.S. Treasury prices gained slightly after the minutes from the Federal Reserve’s latest meeting on Wednesday affirmed market expectations that it will hike rates in December, with trading volumes subdued before Thursday’s Thanksgiving holiday. Furthermore, U.S. crude oil hit fresh two-year highs on Friday, as the shutdown of a major crude pipeline from Canada to the United States tightened North American markets.

Back home, the yields on new 10 year Government Stock were trading 3 basis points higher at 7.02% from its previous close of 6.99% on Thursday.

The benchmark five-year interest rates were trading 2 basis points higher at 6.90% from its previous close of 6.88% on Thursday.