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Bond yields trade higher on Friday

27 Jul 2018 Evaluate

Bond yields edged higher on Friday, tracking sharp rise in US Treasury yields, while market awaits fresh supply of papers later today and monetary policy decision next week.

In the global market, US benchmark Treasury yields traded at six-week highs on Thursday as investors waited for what many analysts expect to be a strong reading of gross domestic product data for the second quarter on Friday. Furthermore, Oil prices slipped in quiet trading after three days of gains, but took support from Saudi Arabia halting crude transport through a key shipping lane, falling U.S. inventories and easing trade tensions between Washington and Europe.

Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.78% from its previous close of 7.76% on Thursday.

The benchmark five-year interest rates were trading 6 basis points higher at 7.97% from its previous close of 7.91% on Thursday.

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