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Bond yields trade higher on Friday

02 Feb 2018 Evaluate

Bond yields edged higher on Friday, as investors awaited a fresh supply of notes through a weekly auction.

In the global market, the U.S. Treasuries market started February on a sour note with the 10-year yield hitting a near four-year peak on Thursday as investors booked profits on curve-related bets ahead of Friday's jobs report. Furthermore, U.S. oil rose for a third day after a survey showed strong compliance with output cuts by OPEC and others including Russia, offsetting concerns about surging U.S. production.

Back home, the yields on new 10 year Government Stock were trading 5 basis points higher at 7.66% from its previous close of 7.61% on Thursday.

The benchmark five-year interest rates were trading 7 basis points higher at 7.50% from its previous close of 7.43% on Thursday.