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Bond yields trade lower on Monday

08 Oct 2018 Evaluate

Bond yields traded lower on Monday, tracking a fall in crude oil prices.

In the global market, the US Treasuries market tumbled for a third straight day with the 10-year yield hitting a seven-year high, as a solid payrolls report fueled jitters about rising inflation and more interest rate hikes. Furthermore, Brent crude oil prices fell by more than 1 percent after Washington said it may grant waivers to sanctions against Iran's oil exports next month, and as Saudi Arabia was said to be replacing any potential shortfall from Iran.

Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 8.00% from its previous close of 8.02% on Friday.

The benchmark five-year interest rates were trading 1 basis point higher at 8.00% from its previous close of 7.99% on Friday.

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