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Bond yields edge higher on Tuesday

12 Jun 2018 Evaluate

Bond yields edged higher on Tuesday, ahead of an auction of state papers, while investors also await the key retail inflation data later in the day.

In the global market, U.S. Treasury yields rose on Monday before the Federal Reserve is expected to raise interest rates on Wednesday, though the Treasury Department saw solid demand for $54 billion in new three and 10-year notes. Furthermore, oil prices edged up along with global markets on cautious optimism over the outcome of a summit between U.S. President Donald Trump and North Korean leader Kim Jong Un in Singapore.

Back home, the yields on new 10 year Government Stock were trading 3 basis points higher at 7.99% from its previous close of 7.96% on Monday.

The benchmark five-year interest rates were trading 4 basis points higher at 8.03% from its previous close of 7.99% on Monday.