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Bond yields trade lower on Thursday

12 Jul 2018 Evaluate

Bond yields edged lower on Thursday, as crude oil prices tumbled overnight, easing concerns of quicker domestic inflation rate going ahead.

In the global market, U.S. yields slipped on Wednesday as growing trade tension between China and the United States contributed to high demand for an auction of 10-year notes. Furthermore, Brent crude rose more than $1 as focus turned to a big drawdown in U.S. stockpiles, recouping some of the market's heavy losses from the previous session that had been sparked by news that Libya would resume oil exports.

Back home, the yields on new 10 year Government Stock were trading 5 basis points lower at 7.82% from its previous close of 7.87% on Wednesday.

The benchmark five-year interest rates were trading 5 basis points lower at 7.97% from its previous close of 8.02% on Wednesday.

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