Bond yields traded higher on Friday as investors turned cautious ahead of a weekly debt auction, even as hopes of another open market bond purchase announcement could limit losses. Meanwhile investors awaited for the release of the industrial production data for April, slated to be released later in the day.
In the global market, U.S. Treasury yields fell to the lowest levels since February on Thursday as falling oil and stock prices increased demand for safe-haven debt amid concerns about global growth. Furthermore, Oil prices were stable on Friday, supported by strong demand and global supply disruptions, but a stronger dollar kept crude below the 2016 highs reached this week.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.49% from its previous close at 7.48% on Thursday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.41% from its previous close at 7.40% on Thursday.