Bond yields edged lower on Wednesday, as US Treasury yields and crude oil prices fell overnight after US President Donald Trump said that he would not accept a ‘bad deal’ in trade negotiations with China.
In the global market, US Treasury yields fell to two-week lows on Tuesday, as risk appetite continued to fade after weak consumer confidence data and President Donald Trump’s sharp comments on China amid the two countries’ trade negotiations. Furthermore, Oil prices fell for a second day on worries about falling fuel demand after US President Donald Trump’s comments doused optimism over China-U.S. trade talks and reignited concerns on global economic growth.
Back home, the yields on new 10 year Government Stock were trading 3 basis points lower at 6.75% from its previous close of 6.78% on Tuesday.
The benchmark five-year interest rates were trading 7 basis points higher at 6.57% from its previous close of 6.50% on Tuesday.