Bond yields traded higher on Thursday even as renewed conflicts in the Middle East after Iran launched surprise attacks on U.S. bases in Jordan, surging crude oil prices and concerns over the outlook for interest rates.
In the global market, U.S. Treasury yields continued their upward climb on Thursday as investors weighed the Federal Reserve’s decision to hold interest rates steady and sought insight on future monetary policy decisions. Furthermore, Crude oil prices gave up some of their gains on Thursday as oil tankers continued to make their way out of the Middle East even as tensions there escalated, with the U.S.-Iran war spreading beyond its main fronts.
Back home, the yields on new 10 year Government Stock were trading 02 basis points higher at 6.81% from its previous close of 6.79% on Wednesday.
The benchmark five-year interest rates were trading 2 basis points higher at 6.44% from its previous close of 6.42% on Wednesday.