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Bond yields trade higher on Wednesday

01 Jan 2025 Evaluate

Bond yields traded higher on Wednesday as Ministry of Commerce & Industry in its latest data has showed that the output of eight core industries rose 4.3 per cent year-on-year in November 2024 primarily due to an uptick in production of coal, cement and steel.

In the global market, 10-year U.S. Treasury yield rose Tuesday, capping a year that saw the benchmark yield push higher even as the Federal Reserve cut short-term rates. Furthermore, oil prices rose slightly on Tuesday but were headed for their second straight annual loss as the post-pandemic demand recovery stalled and China’s economy struggled while the U.S. and other non-OPEC producers pumped more crude into a well-supplied global market.

Back home, the yields on new 10 year Government Stock were trading 14 basis points higher at 6.89% from its previous close of 6.75% on Tuesday.

The benchmark five-year interest rates were trading 12 basis points higher at 6.84% from its previous close of 6.72% on Tuesday.

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