Bond yields edged marginally lower on Thursday as traders await the government’s planned buyback of securities amid a lack of fresh cues.
In the global market, U.S. Treasury yields rose slightly Wednesday as investors weighed the latest remarks from Federal Reserve officials and looked for clues on the path ahead for interest rates. Furthermore, oil prices rose on Thursday as shrinking US crude inventories signalled tighter supply, and amid rising hopes that the Federal Reserve would cut interest rates by the end of the year.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 7.12% from its previous close of 7.13% on Wednesday.
The benchmark five-year interest rates were trading flat with its previous close of 7.14% on Wednesday.
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