Bond yields traded higher on Thursday as stronger than expected US jobs data that propped up treasury yields sapped demand for bonds. Meanwhile, the International Monetary Fund (IMF) projected a robust growth rate of 7.3 percent for the country this fiscal, picking up to 7.5 percent next year.
In the global markets, U.S. Treasury yields mostly climbed on Wednesday on reduced concerns about a U.S. economic slowdown, increasing risk appetite and limiting interest in safe-haven government debt. Furthermore, Oil prices edged up on Thursday as sentiment spread that a 20-month long market rout may have come to an end as production slows amid strong demand.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.64% from its previous close at 7.62% on Wednesday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.74% from its previous close at 7.72% on Wednesday.