Bond yields edged higher on Thursday, after minutes of the Monetary Policy Committee’s latest meeting showed that members raised inflation concerns with one of them saying it was time to reverse monetary accommodation.
In the global market, U.S. Treasury yields rose to nine-month highs on Wednesday on optimism that U.S. tax overhaul will help boost growth and as economic data improves. Furthermore, oil prices were stable after posting strong gains late in the previous session on the back of a drop in U.S. crude inventories.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.24% from its previous close of 7.22% on Wednesday.
The benchmark five-year interest rates were trading 3 basis points higher at 7.07% from its previous close of 7.04% on Wednesday.
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