Bond yields traded higher on Wednesday despite geopolitical tensions between the United States and Iran flared up again.
In the global market, U.S. Treasury yields moved higher on Tuesday as investors digested further economic data and anticipated the start of the NATO Summit in Turkey. Furthermore, Oil prices rose sharply on Wednesday after the U.S. military said it launched fresh strikes against Iran and reimposed sanctions on the country’s oil over attacks on vessels in the Strait of Hormuz.
Back home, the yields on new 10 year Government Stock were trading 07 basis points higher at 6.76% from its previous close of 6.69% on Tuesday.
The benchmark five-year interest rates were trading 04 basis points higher at 6.40% from its previous close of 6.36% on Tuesday.