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Bond yields trade lower on Tuesday

13 Nov 2018 Evaluate

Bond yields traded lower on Tuesday, as market participants took support with the consumer price index (CPI) inflation easing to 3.31 percent in the month of October 2018 as compared to 3.58 percent in October 2017 on low food prices.

Furthermore, oil prices declined on Monday, giving up earlier gains to push the US benchmark below $60 a barrel for the first time since February, down a record 11 sessions in a row, after President Donald Trump said he hopes OPEC doesn’t cut crude production.

Back home, the yields on new 10 year Government Stock were trading 3 basis points lower at 7.77% from its previous close of 7.80% on Monday.

The benchmark five-year interest rates were trading 7 basis points lower at 7.64% from its previous close of 7.71% on Monday.