Bond yields edged lower on Friday, on sustained demand from corporates and banks.
In the global market, U.S. Treasury yields came off their highs to close mostly flat on Thursday after brisk bidding for a debt auction in the afternoon, a sign that investors are still hungry for bonds despite worries that this year’s strong rally across all fixed-income assets have made their valuations expensive. Furthermore, Oil prices rose on Friday, hitting three-month highs after data showed record online spending by U.S. consumers, stoking faith in the world’s no. 1 economy even before the hoped-for end to the trade war between Washington and Beijing.
Back home, the yields on new 10 year Government Stock were trading 7 basis points lower at 6.51% from its previous close of 6.58% on Thursday.
The benchmark five-year interest rates were trading 8 basis points lower at 6.44% from its previous close of 6.45% on Thursday.
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