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Bond yields trade higher on Thursday

17 Oct 2019 Evaluate

Bond yields edged higher on Thursday, ahead of tomorrow’s debt supply and minutes of the rate-setting Monetary Policy Committee’s latest meeting.

In the global market, US Treasury yields fell on Wednesday after data showed that US retail sales fell for the first time in seven months in September, adding to concerns that the US economy is slowing. Furthermore, Oil prices slid after industry data showed a larger-than-expected build-up in stocks in the United States, adding to concerns that demand for oil around the world may weaken amid further signs of a global economic slowdown.

Back home, the yields on new 10 year Government Stock were trading 16 basis points higher at 6.82% from its previous close of 6.66% on Wednesday.

The benchmark five-year interest rates were trading 12 basis point higher at 6.44% from its previous close of 6.32% on Wednesday.