Bond yields edged higher on Thursday on growing hopes of further monetary easing to mitigate the economic impact of the coronavirus-induced lockdown.
In the global market, U.S. Treasury yields fell across the board on Wednesday as risk aversion flared up again after data showed the coronavirus pandemic decimating U.S. consumer demand and manufacturing activity. Furthermore, oil rose, with U.S. crude rebounding from near-20-year lows in the previous session on hopes that a big build-up in U.S. inventories may mean producers have little option but to deepen output cuts as the coronavirus pandemic ravages demand.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 6.44% from its previous close of 6.42% on Wednesday.
The benchmark five-year interest rates were trading 4 basis points lower at 5.72% from its previous close of 5.76% on Wednesday.