Bond yields fall on Wednesday
Key Highlights
The yields on new 10-year Government Stock were trading 3 basis points lower at 7.26% from its previous close of 7.29% on Tuesday
Bond yields traded lower on Wednesday as market participants evaluated the results of the US midterm elections. The yield on the new 10-year Government Stock declined by 3 basis points to 7.26%, moving down from the 7.29% level recorded on Tuesday.
The benchmark five-year interest rates also moved lower during the session. These rates traded 5 basis points down at 7.15% compared to the 7.20% level seen on Tuesday. Traders monitored these movements while global markets reacted to the outcome of the US midterm elections, where Democrats gained control of Congress from the Republicans.
Global factors influenced the broader market sentiment throughout the day. US Treasury yields moved higher on Tuesday during the voting process. Additionally, oil prices increased on Wednesday as investors awaited developments regarding Washington’s position in the conflict with Iran. Market participants also continued to track a busy schedule of economic data releases and ongoing tensions in the Middle East.
Based on company and agency reports. For information only; not investment advice.