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Bond yields trade higher on Tuesday

19 Mar 2019 Evaluate

Bond yields traded higher on Tuesday, as traders booked profits ahead of a state debt auction later today and fresh supply of federal papers later this week

In the global market, US Treasury debt yields ticked up on Monday but made no significant moves as traders held off placing large positions ahead of the Federal Reserve's policy-setting meeting this week at which the US central bank is expected to keep interest rates steady. Furthermore, oil prices hovered just below 2019 highs, supported by ongoing supply cuts led by producer club OPEC.

Back home, the yields on new 10 year Government Stock were trading 5 basis points higher at 7.53% from its previous close of 7.48% on Monday.

The benchmark five-year interest rates were trading 1 basis point higher at 7.01% from its previous close of 7.00% on Monday.