Bond yields edged lower on Thursday with data showing that growth in production by eight infrastructure industries, which comprise the core sector, slowed down sharply to a 20-month low of 0.1 per cent in October, owing to a high base effect and weak activity.
In the global market, the 10-year Treasury yield dipped Wednesday after Federal Reserve Chair Jerome Powell’s latest remarks on future monetary policy moves by the U.S. central bank. Furthermore, oil prices rose on Thursday as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after U.S. data signalled weak fuel demand.
Back home, the yields on new 10 year Government Stock were trading 8 basis points lower at 7.20% from its previous close of 7.28% on Wednesday.
The benchmark five-year interest rates were trading 7 basis points lower at 7.06% from its previous close of 7.13% on Wednesday.