Bond yields traded flat on Thursday, as investors await the minutes of the Monetary Policy Committee’s latest meeting where the key interest rate was kept on hold.
In the global market, U.S. Treasury yields edged higher on Wednesday as a report that China will take more steps to bolster its virus-hit economy boosted risk taking, and U.S. economic data beat economists’ expectations. Furthermore, oil prices rose nearly 1%, extending big gains from a day earlier, as the market worried about crude supply disruptions and demand concerns were cushioned after a sharp drop in new coronavirus cases at the epicentre of the outbreak.
Back home, the yields on new 10 year Government Stock were trading flat at its previous close of 6.38% on Tuesday.
The benchmark five-year interest rates were trading 4 basis points higher at 5.97% from its previous close of 6.93% on Tuesday.