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Bond yields edge lower on Friday

15 Dec 2023 Evaluate

Bond yields edged lower on Friday as market participants awaited weekly debt sale for further cues.

In the global market, U.S. Treasury yields sank to an over four-month low in Asian trade on Thursday, after the Federal Reserve said it was done raising interest rates and flagged deeper-than-expected rate cuts in 2024. Furthermore, Oil prices continued to rise on Friday, gaining for a third consecutive session, and looked set to break a seven-week losing streak on a weaker US dollar and higher demand forecasts for 2024. 

Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 7.17% from its previous close of 7.19% on Thursday.

The benchmark five-year interest rates were trading 6 basis points lower at 7.06% from its previous close of 7.12% on Thursday.