Bond yields edged lower on Thursday, as investors still await for the likely announcement of a fiscal stimulus package to mitigate the coronavirus pandemic impact.
In the global market, a market shift back into equities on Wednesday drove up U.S. Treasury yields, but they remained at relatively low levels as bond investors' skepticism about efforts to restart the U.S. economy amid the COVID-19 pandemic limited gains. Furthermore, oil extended gains amid signs that producers are cutting production to cope with a collapse in demand for fuel as the coronavirus outbreak ravages the world's economies.
Back home, the yields on new 10 year Government Stock were trading 19 basis points lower at 6.03% from its previous close of 6.22% on Wednesday.
The benchmark five-year interest rates were trading 4 basis points lower at 5.11% from its previous close of 5.15% on Wednesday.