Bond yields traded lower on Thursday as traders remain concerned about the outlook for interest rates after the US Fed left interest rates unchanged, but projected rates could be higher by year-end.
In the global market, U.S. Treasury yields rose slightly on Wednesday following a stronger-than-expected May retail sales report, as investors awaited Federal Reserve Chair Kevin Warsh’s first policy meeting statement. Furthermore, oil prices fell on Thursday as investors assessed the implications of the newly unveiled U.S.-Iran peace accord, with concerns over a looming global supply surplus weighing on sentiment.
Back home, the yields on new 10 year Government Stock were trading 03 basis points lower at 6.83% from its previous close of 6.86% on Wednesday.
The benchmark five-year interest rates were trading 03 basis points lower at 6.45% from its previous close of 6.48% on Wednesday.