Bond yields edged higher on Thursday ahead of high-level trade talks between US and China. Trade talks between the world’s two largest economies are due to start today, but reports said that Chinese officials are growing hesitant to pursue a broad trade deal with the United States.
In the global market, US Treasury yields rose on Wednesday, a day that saw a flood of supply and on optimism for progress in US-China trade negotiations that begin in Washington on Thursday. Furthermore, Oil prices slid as hopes faded for any significant progress in US-China trade talks that could dispel clouds over the global economy and gloom over prospects for weaker oil demand.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.67% from its previous close of 6.66% on Wednesday.
The benchmark five-year interest rates were trading 2 basis points lower at 6.33% from its previous close of 6.31% on Wednesday.