Bond yields traded flat on Thursday, as investors await another special open market operation by the central bank.
In the global market, the U.S. sold $29 billion worth of 10-year notes for the lowest high yield on record on Wednesday, indicating strong demand for the safe-haven securities despite a flood of new issuance to fund economic stimulus in response to the coronavirus pandemic. Furthermore, oil prices drifted lower as concerns about renewed COVID-19 lockdowns in the United States outweighed signs of a recovery in U.S. gasoline demand.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 5.77% on Wednesday.
The benchmark five-year interest rates were trading 2 basis points lower at 4.95% from its previous close of 4.97% on Wednesday.