Bond yields edged higher on Thursday, tracking the fall in US Treasury yields after the Federal Reserve cut policy rates as expected.
In the global market, US Treasury yields fell on Wednesday after the Federal Reserve cut interest rates for the third time this year, as expected, but signaled that monetary easing could be on hold. Furthermore, Oil prices rose as investors banked on more economic stimulus by China after weak PMI data, partly recovering from losses in the previous session on a surprise build in US crude stocks.
Back home, the yields on new 10 year Government Stock were trading 12 basis points higher at 6.78% from its previous close of 6.66% on Wednesday.
The benchmark five-year interest rates were trading 10 basis points higher at 6.41% from its previous close of 6.31% on Wednesday.