Bond yields traded lower on Friday, after the unexpected rate cut by the nation’s rate-setting panel on February 07.
In the global market, Treasury yields fell for a third straight day, in line with declines in Europe and Britain, spooked by stock market weakness amid economic growth warnings from the European Commission and Bank of England as well as worries about the US-China trade talks. Furthermore, Oil markets dipped, dragged down by concerns over a global economic slowdown although supply cuts led by producer club OPEC and US sanctions against Venezuela provided crude with some support.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 7.48% from its previous close of 7.50% on Thursday.
The benchmark five-year interest rates were trading 5 basis points lower at 7.23% from its previous close of 7.28% on Thursday.