The United States Department of Labor (US) recorded 684,000 US claims for unemployment benefits last week. This figure decreased 97,000 compared to the previous week, or reached the lowest level since November 2020. In addition, stock market players responded positively to the World Bank’s latest forecast on China’s economic growth. On the other hand, this has received a negative response from bond market players. The World Bank projects that China’s economy has the opportunity to grow up to 8.1% in 2021. At the end of the week, the yield on Government Securities (SUN) series FR0087 10-year tenor was relatively flat at 6.68% level. This yield movement was amidst the 3 bps increase in UST yield on the same tenor to the 1.64% level.
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