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Bond yields edge higher on Tuesday

02 Jan 2024 Evaluate

Bond yields edged higher on Tuesday as traders anticipate the first state debt sale of the quarter, introducing major supply to the market. 

In the global market, Oil prices jumped in the first session of the New Year, boosted by the chances of Middle East supply disruptions after a naval clash in the Red Sea, as well as hopes of strong holiday demand and an economic stimulus in China, the top importer of crude.

Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.21% from its previous close of 7.19% on Monday.

The benchmark five-year interest rates were trading 2 basis points higher at 7.09% from its previous close of 7.07% on Monday.


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