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Bond yields trade higher on Thursday

25 Jan 2018 Evaluate

Bond yields edged higher on Thursday, tracking overnight gains in crude oil prices and ahead of an auction of notes.

In the global market, U.S. Treasury debt prices slumped on Wednesday, after Treasury Secretary Steven Mnuchin backed a weaker dollar to help boost America's global trade, breaking from the traditional strong currency policy of past administrations. Furthermore, Oil prices hit their highest level since December 2014, lifted by a weak dollar and a 10th straight week of declines in U.S. crude inventories.

Back home, the yields on new 10 year Government Stock were trading 4 basis points higher at 7.32% from its previous close of 7.28% on Wednesday.

The benchmark five-year interest rates were trading 3 basis points higher at 7.25% from its previous close of 7.22% on Wednesday.

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