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Bond yields trade higher on Friday

25 Sep 2020 Evaluate

Bond yields traded higher on Friday in early session ahead of a fresh supply of papers at a weekly auction today.

In the global market, U.S. Treasury yields fell on Thursday as labor market data signaled the economic recovery may be running out of gas, but moved off lows after a stronger-than-expected report on the housing sector. Furthermore, oil prices were little changed but on track for a weekly fall on concerns that a global resurgence of COVID-19 infections will constrain fuel demand, while the likely return of exports from Libya will add to supply.

Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.01% from its previous close of 5.99% on Thursday.

The benchmark five-year interest rates were trading 3 basis points higher at 5.38% from its previous close of 5.35% on Thursday.