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Bond yields trade higher on Tuesday

28 Aug 2018 Evaluate

Bond yields traded higher on Tuesday, as investors were anxious due to overnight rise in crude oil prices.

In the global market, US Treasury yields rose on Monday as Mexico and the United States reached a deal on bilateral issues in the renegotiation of the North American Free Trade Agreement (NAFTA), stoking some selling of safe-haven Treasuries holdings. Furthermore, Oil prices rose as risks of supply disruptions from places such as Venezuela, Africa and Iran triggered expectations of a tightening market.

Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.91% from its previous close of 7.89% on Monday.

The benchmark five-year interest rates were trading 2 basis points higher at 7.97% from its previous close of 7.95% on Monday.

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