Bonds weaken on UST yield, dollar rise

MALAYSIA’S government bonds and the ringgit continued to weaken on a weekly basis due to the strong US dollar and continued rise in US Treasury (UST) yields.

In the United States, the outlook for “higher-for-longer” interest rates by the US Federal Reserve (Fed), and further supported by concerns over inflation due to the surge in global crude oil prices, lifted UST yields to their highs since 2006.