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Bond yields trade lower on Thursday

28 Nov 2019 Evaluate

Bond yields edged lower on Thursday, on Finance minister Nirmala Sitharaman’s statement that she promised more sector-specific steps to boost sagging economic growth and asserted that the 32 measures already initiated by the government have started ‘bearing results’.

In the global market, US Treasury yields rose on Wednesday after data showed that new orders for key US-made capital goods increased by the most in nine months in October, boosting confidence that the US economy is solid. Furthermore, Oil prices fell, extending losses from the previous session after official data showed US crude and gasoline stocks rose against expectations and production hit a record.

Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 6.45% from its previous close of 6.47% on Wednesday.

The benchmark five-year interest rates were trading flat at its previous close at 6.25% on Wednesday.

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