Bond yields traded lower ahead of the central bank’s open market operation in state debt later today.
In the global market, U.S. Treasury yields tumbled on Wednesday after incomplete election results pointed to a still-divided national government and the likelihood for a smaller stimulus plan to revive the pandemic-slammed economy. Furthermore, U.S. oil prices dropped as the dollar strengthened on growing expectations Democrat Joe Biden would win the U.S. presidential election but the Republicans would retain Senate control, holding back any huge COVID-19 relief package.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 5.86% from its previous close of 5.88% on Wednesday.
The benchmark five-year interest rates were trading 4 basis points lower at 5.12% from its previous close of 5.16% on Wednesday.