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Bond yields trade flat on Thursday

04 Jan 2024 Evaluate

Bond yields traded flat on Thursday, as market participants continued to await fresh triggers after US yields started the New Year with an upward bias.

In the global market, the 10-year Treasury yield inched lower Wednesday as investors bet that perhaps the Federal Reserve wouldn’t cut rates as aggressively as hoped for this year. Furthermore, Oil prices rose on Thursday, extending the previous day's sharp gains on concerns about Middle Eastern supply following disruptions at a field in Libya and heightened tension around the Israel-Gaza war.

Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.21% on Wednesday.

The benchmark five-year interest rates were trading 1 basis point higher at 7.08% from its previous close of 7.07% on Wednesday. 


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