Bond yields were trading steady on Friday as investors largely stay on the sidelines in the absence of any fresh triggers. Meanwhile, the government has planned to borrow a net of Rs 4.25 lakh crore next financial year by selling sovereign bonds as it is estimated to repay Rs 1.75 lakh crore to bond holders due to maturities.
In the global market, U.S. Treasury debt prices traded higher on Thursday as oil and stocks stabilized and as investors focused on February's employment report due on Friday for further signs of economic momentum. Furthermore, Crude oil rose on Friday, buoyed by renewed optimism prices may have bottomed out after official U.S. data showed oil production fell to its lowest level since November 2014.
Back home, the yields on new 10 year Government Stock were trading flat from its previous close at 7.62% on Thursday.
The benchmark five-year interest rates were trading 4 basis points higher at 7.79% from its previous close at 7.75% on Thursday.