Bond yields edged lower on Friday, tracking lower US Treasury yields and an overnight slump in crude oil prices.
In the global market, the US Treasury market rallied on Thursday with 10-year yields tumbling to their lowest levels since November 2016, as US President Donald Trump’s threat to slap more duties on Chinese goods touched off a stampede for safe-haven government bonds. Furthermore, Oil prices rose more than $1, rebounding from their biggest falls in years after US President Donald Trump imposed more tariffs on Chinese imports, intensifying the trade war between the world’s two biggest economies and crude consumers.
Back home, the yields on new 10 year Government Stock were trading 8 basis points lower at 6.34% from its previous close of 6.42% on Thursday.
The benchmark five-year interest rates were trading 9 basis points lower at 6.33% from its previous close of 6.42% on Thursday.