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Bond yields edge lower on Thursday

28 Mar 2024 Evaluate

Bond yields edged lower on Thursday amid traders now awaiting the borrowing calendar for the first-half of the next financial year starting April 1, which is expected before the end of this week.

In the global market, U.S. Treasury yields slipped on Wednesday as investors considered the economic outlook and looked to fresh data. Furthermore, oil prices fell for a second day on Wednesday on surging U.S. stockpiles and signs the OPEC+ producer group is unlikely to change its output policy at a technical meeting next week.

Back home, the yields on new 10 year Government Stock were trading 3 basis point lower at 7.04% from its previous close of 7.07% on Wednesday.

The benchmark five-year interest rates were trading 4 basis points lower at 7.05% from its previous close of 7.09% on Wednesday.

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