Bond yields traded higher on Thursday, as country's foreign exchange reserves surged by $58.38 billion in April-September 2021 to $635.36 billion. The forex reserves were at $576.98 billion at end-March 2021.
In the global market, The U.S. 2-year Treasury yield rose to a 19-month high on Wednesday, occasioning the sharpest flattening of one yield curve yardstick since the pandemic started amid heightened anticipation of a Federal Reserve interest rate rise next year. Furthermore, oil prices fell for a second straight day, with Brent hitting its lowest in two weeks after official figures showed a surprise jump in U.S. inventories of crude.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 5.84% from its previous close of 5.83% on Wednesday.
The benchmark five-year interest rates were trading 3 basis points higher at 6.36% from its previous close of 6.33% on Wednesday.