Bond yields traded higher on Monday despite renewed US-Iran tensions after US forces struck two Iranian rocket launchers near the Strait of Hormuz over the weekend.
In the global market, Treasury yields were marginally lower on Monday, as investors monitored developments in the Middle East and comments made at the Federal Reserve’s annual symposium in Jackson Hole, Wyoming. Furthermore, Oil prices were trading higher on Monday after the U.S. attacked an Iranian island in the Strait of Hormuz and drew retaliation from Tehran, as their conflict extended into its sixth month.
Back home, the yields on new 10 year Government Stock were trading 4 basis points higher at 6.95% from its previous close of 6.91% on Friday.
The benchmark five-year interest rates were trading 7 basis points higher at 6.60% from its previous close of 6.53% on Friday.