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Bond yields trade higher on Monday

24 Sep 2018 Evaluate

Bond yields traded higher on Monday, tracking a surge in crude oil prices and amid an expected fall in the local currency.

In the global market, US long-dated Treasury yields slipped on Friday, in tandem with those in Europe, as negotiations over Britain's exit from the European Union appeared to stall. Furthermore, Oil prices rose as US markets tightened just weeks ahead of Washington's plan to impose new sanctions against Iran, with US bank JP Morgan warning of price spikes above $90 per barrel in coming months.

Back home, the yields on new 10 year Government Stock were trading 4 basis points higher at 8.12% from its previous close of 8.08% on Friday.

The benchmark five-year interest rates were trading 10 basis points higher at 8.22% from its previous close of 8.12% on Friday.

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