ET:5-year OIS hits 3-week high on higher crude, US Treasury spike
The benchmark five-year overnight indexed swap rate rose 5 basis points (bps) to 6.88 per cent, a near 3-week high.
The one-year rate rose 2 bps to 7.14 per cent. Brent crude futures steadied above $104 per barrel on Wednesday, as upbeat US housing and consumer confidence data sparked expectations of improved demand from the world's top consumer.
Sharp spike in US Treasury yields to 13-month highs was also aiding paying in OIS.
