Bond yields rise on Wednesday
Key Highlights
Bond yields for the new 10-year Government Stock rose to 7.46% on Wednesday. The 3 basis point increase follows global economic and supply developments.
Bond yields rose on Wednesday as the new 10-year Government Stock traded at 7.46%. This figure represents a rise of 3 basis points from the previous close of 7.43% recorded on Tuesday. Market participants are currently monitoring global developments while awaiting the upcoming interest-rate decision from the Federal Reserve.
In the global market, U.S. Treasury yields moved higher on Tuesday. This shift occurred as the Federal Reserve began its two-day monetary policy meeting and investors processed recent economic data. Additionally, oil prices rose on Wednesday following an attack on a refinery in Saudi Arabia. This event renewed concerns regarding supply risks in the Middle East linked to the conflict with Iran and its proxies.
Domestically, the benchmark five-year interest rates also saw a change. These rates were trading 2 basis points higher at 7.34% compared to the previous close of 7.32% on Tuesday. The current movements in the domestic bond market follow these broader international trends and regional supply concerns.
Based on company and agency reports. For information only; not investment advice.