Bond yields held steady at 7.28% on Friday as investors await the upcoming weekly debt auction and monitor global market drivers and oil prices.
Bond yields traded flat on Friday as investors stayed on the sidelines ahead of a weekly debt auction that will test demand for fresh supply. Market participants closely monitored the upcoming debt sale.
Key Market Figures
- New 10 year Government Stock yield: 7.28%
- Five-year benchmark interest rate: 7.05%
- Previous five-year benchmark rate close: 7.01%
The yields on the new 10 year Government Stock were trading flat with its previous close of 7.28% on Thursday.
Global Market Drivers and Oil Prices
In the global market, United States Treasury yields retreated from session highs on Thursday following a steady auction of longer-dated securities and a Treasury buyback operation. Furthermore, oil prices fell on Friday as Middle East supply concerns eased somewhat after United States President Donald Trump said the country will not attack Iran before United States elections next month, amid productive talks to end their war that has disrupted the market.
Domestic Interest Rate Shifts
Back home, the benchmark five-year interest rates were trading 4 basis points higher at 7.05% from its previous close of 7.01% on Thursday.
