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Bond yields edge higher on Wednesday

14 Feb 2024 Evaluate

Bond yields edged higher on Wednesday as Inflation based on wholesale price index (WPI) eased in the month of January 2024 to 0.27% from a nine-month high of 0.73% in December 2023, amid lower prices of crude petroleum & natural gas, non-food articles and food articles.

In the global market, the yield on the 10-year Treasury note surged on Tuesday after January inflation data came in stronger than expected. Furthermore, Oil futures rose Tuesday despite stubborn inflation in the U.S. that dragged the stock market lower.

Back home, the yields on new 10 year Government Stock were trading 3 basis point higher at 7.12% from its previous close of 7.09% on Tuesday.

The benchmark five-year interest rates were trading 4 basis points higher at 7.11% from its previous close of 7.07% on Tuesday.

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