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Bond yields trade higher on Monday

30 Jul 2018 Evaluate

Bond yields traded higher on Monday, as investors remained on sidelines ahead of the rate-setting Monetary Policy Committee’s three-day review meeting that starts today.

In the global market, US Treasury yields retreated from six-week highs on Friday after data showed the U.S. economy grew at its fastest pace in nearly four years, but came in below high expectations for the number. Furthermore, oil prices were mixed, with WTI rising on the back of strong US economic growth figures, while Brent began the week trading lower after posting its first weekly gain in four.

Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.79% from its previous close of 7.78% on Friday.

The benchmark five-year interest rates were trading 2 basis points higher at 7.94% from its previous close of 7.92% on Friday.

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