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Bond yields trade lower on Friday

28 Jun 2019 Evaluate

Bond yields traded lower on Friday, as state governments are expected to raise a higher quantum of funds by selling bonds during July-September.

In the global market, US Treasury yields fell on Thursday on concerns that trade discussions between the United States and China on Saturday may be more complicated than previously expected, boosting demand for safe-haven debt. Furthermore, Oil prices were steady, with focus shifting to the G20 summit where a scheduled meeting between US President Donald Trump and Chinese President Xi Jinping has stirred hopes that trade tensions could ease.

Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 6.88% from its previous close of 6.90% on Thursday.

The benchmark five-year interest rates were trading 1 basis points lower at 6.78% from its previous close of 6.79% on Thursday.