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Bond yields trade higher on Thursday

24 Dec 2020 Evaluate

Bond yields traded higher ahead of a fresh supply of bonds.

In the global market, U.S. Treasury yields jumped on Wednesday and a key part of the yield curve reached its steepest in more than three years as Britain appeared to be close to a deal to leave the European Union, and as France reopened its border with Britain. Furthermore, oil extended gains as a drawdown in U.S. stockpiles of crude and gasoline lifted demand hopes, while investors also cheered a potential Brexit trade deal.

Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 5.97% from its previous close of 5.95% on Wednesday.

The benchmark five-year interest rates were trading 4 basis points higher at 5.14% from its previous close of 5.10% on Wednesday.