Bond yields traded lower on Monday after the U.S. and Iran exchanged attacks in the Strait of Hormuz, reviving concerns about disruption to Middle East supplies.
In the global market, US treasury yields rose on Friday, as investors digested a stronger-than-expected jobs report for the month of August and weighed the impact it may have on the Federal Reserve’s decisions on interest rates. Furthermore, Oil prices extended gains on Monday as tit-for-tat strikes between the U.S. and Iran on vessels sailing in the Strait of Hormuz and other areas heightened concerns of a prolonged supply disruption from the Middle East.
Back home, the yields on new 10-year Government Stock were trading 1 basis point lower at 6.95% from its previous close of 6.96% on Friday.
The benchmark five-year interest rates were trading 1 basis point lower at 6.49% from its previous close of 6.50% on Friday.