Bond yields traded lower on Thursday after hotter-than-expected U.S. inflation data revived bets on interest rate hikes by the US Fed.
In the global market, US Treasury bonds rallied on Wednesday, erasing earlier losses triggered by a hotter-than-expected inflation report and pushing yields lower across most maturities by the end of the trading session. Furthermore, Oil prices fell on Thursday, as traders assessed supply risks stemming from attacks on tankers near the Strait of Hormuz and a report that the U.S. is considering easing sanctions on vessels to reduce petroleum shipping costs.
Back home, the yields on new 10-year Government Stock were trading 2 basis points lower at 7.37% from its previous close of 7.39% on Wednesday.
The benchmark five-year interest rates were trading 7 basis points higher at 7.22% from its previous close of 7.15% on Wednesday.
