Bond yields traded flat on Thursday after Ministry of Commerce & Industry in its latest report has showed that the overall (merchandise plus services) exports increased from $52.8 billion in June 2021 to $64.9 billion in June 2022. As per the Ministry of Commerce & Industry, the overall (merchandise plus services) imports increased from $52.9 billion in June 2021 to $82.4 billion in June 2022.
In the global market, Treasury yields edged lower as bonds rallied on Wednesday after the Federal Reserve hiked interest rates by 75 basis points as it tightens monetary policy in an effort to curb inflation while trying to steer the U.S. economy away from a hard landing. Furthermore, oil gained more than $1 a barrel, extending gains from the previous session, buoyed by improved risk appetite among investors while lower crude inventories and a rebound in gasoline demand in the United States supported prices.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.44% on Wednesday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.13% from its previous close of 7.12% on Wednesday.