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Bond yields trade higher on Friday

26 Oct 2018 Evaluate

Bond yields traded higher on Friday, tracking losses in the local currency ahead of a weekly auction of notes.

In the global market, US Treasury yields rose from three-week lows on Thursday as equities gained, though anxiety about ongoing stock volatility was seen supporting a bid for safe-haven US government debt. Furthermore, Oil prices eased and were heading for a third weekly loss after Saudi Arabia's OPEC governor said the market could be heading into oversupply, as growth concerns took a hit with a slump in global equities this week.

Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.88% from its previous close of 7.87% on Thursday.

The benchmark five-year interest rates were trading 2 basis points higher at 7.86% from its previous close of 7.84% on Thursday.