Bond yields edged higher on Thursday, tracking an uptick in crude oil prices and US Treasury yields and as the local currency may continue to depreciate against the dollar.
In the global market, US Treasury yields jumped to multi-year peaks on Wednesday, with the 10-year yield reaching a seven-year high after economic data bolstered the case for the Federal Reserve to raise interest rates again in December and beyond. Furthermore, Oil prices fell from four-year highs reached the previous session, pressured by rising U.S. inventories and after sources said Russia and Saudi Arabia struck a private deal in September to raise crude output.
Back home, the yields on new 10 year Government Stock were trading 8 basis points higher at 8.19% from its previous close of 8.11% on Wednesday.
The benchmark five-year interest rates were trading 5 basis points higher at 8.21% from its previous close of 8.16% on Wednesday.