Bond yields edged higher on Thursday, as the U.S. Federal Reserve raised interest rates on Wednesday were as expected, but hinted at two more rate increases in 2018.
In the global market, U.S. Treasury yields rose on Wednesday after the Federal Reserve raised interest rates as expected, and signaled two more hikes this year, citing higher inflation. Furthermore, Oil prices eased, dragged down by rising output, although strong demand and a drop in U.S. fuel inventories provided the market with some support.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.94% from its previous close of 7.93% on Wednesday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.96% from its previous close of 7.94% on Wednesday.
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