Bond yields edged lower on Thursday, as the nation’s Monetary Policy Committee didn’t hint at any immediate interest rate increase.
In the global market, U.S. Treasury prices dropped on Wednesday after the Treasury Department sold new 10-year notes to soft demand and the U.S. Senate reached a budget deal, boosting expectations of stronger economic growth. Furthermore, Oil prices eased, taking Brent crude to a 2018 low, as soaring U.S. output uncermined OPEC's efforts to tighten markets and prop up prices.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 7.51% from its previous close of 7.53% on Wednesday.
The benchmark five-year interest rates were trading 3 basis points lower at 7.35% from its previous close of 7.38% on Wednesday.