Bond Yields Rise Amid Global Pressures and Oil Prices
By ThePip Desk
New 10-year government stock yields rose to 7.21% amid elevated oil prices, rising U.S. bond yields, and ongoing Middle East concerns.
Bond yields traded higher on Thursday due to elevated oil prices and higher U.S. bond yields amid persisting concerns about the situation in the Middle East.
Key Yield Movements
Domestic debt figures recorded specific shifts across key maturities on Thursday compared to Wednesday’s close.
Treasury yields wavered in the global market on Wednesday as traders weighed lighter-than-expected U.S. inflation data for August while awaiting the September jobs report due later in the week.
Oil prices rose on Thursday, reversing earlier losses, following a report that Chinese refiners have suspended October fuel exports, further squeezing war-constrained energy markets.
Domestic Debt Market Watch
The yields on new 10-year Government Stock traded 3 basis points higher at 7.21% from its previous close of 7.18% on Wednesday.
The benchmark five-year interest rates traded 3 basis points lower at 6.86% from its previous close of 6.89% on Wednesday.
Market participants continue to monitor global energy constraints and upcoming international economic data releases for near-term guidance.