Bond yields traded higher on Monday despite lingering uncertainty surrounding U.S.-Iran peace talks and the Strait of Hormuz.
In the global market, U.S. Treasury yields rose on Friday after the latest retail sales figures missed expectations and the U.S. said its naval blockade of Iranian ports could continue ‘indefinitely’. Furthermore, Oil prices moved in a tight range on Monday after clocking strong gains last week, with continued uncertainty over U.S.-Iran relations and the Strait of Hormuz keeping crude largely underpinned.
Back home, the yields on new 10 year Government Stock were trading 5 basis points higher at 6.81% from its previous close of 6.76% on Friday.
The benchmark five-year interest rates were trading 8 basis points higher at 6.43% from its previous close of 6.35% on Friday.