Bond yields edged higher on Thursday, after the U.S. Federal Reserve raised interest rates as expected.
In the global market, U.S. Treasury yields were slightly lower on Wednesday after the Federal Reserve raised interest rates and forecast two more hikes for 2018, fewer than the three that many market participants had expected. Furthermore, Oil prices rose, lifted by a surprise draw on U.S. crude inventories as well as ongoing dollar weakness which makes oil cheaper in global markets and potentially spurs demand.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.59% from its previous close of 7.58% on Wednesday.
The benchmark five-year interest rates were trading 3 basis points higher at 7.40% from its previous close of 7.37% on Wednesday.