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Bond yields edge marginally higher on Wednesday

19 Apr 2023 Evaluate

Bond yields edged marginally higher on Wednesday as traders await fresh triggers including the minutes of the latest central bank meeting.

In the global market, U.S. Treasury yields climbed on Tuesday as investors considered the latest quarterly earnings reports, including from major banks, and assessed the economic outlook. Furthermore, Oil prices rose in early Asian trade on Wednesday as U.S. crude inventories were seen falling and on strong Chinese economic data, signalling strengthening fuel demand.

Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.23% from its previous close of 7.22% on Tuesday.

The benchmark five-year interest rates were trading flat with its previous close of 7.05% on Tuesday.