Bond yields edged higher on Friday as investors may defer purchases ahead of a weekly debt sale and on caution before the release of U.S. jobs report later today.
In the global market, U.S. Treasury yields rose to three-week highs on Thursday as investors prepared for a potentially strong jobs report on Friday, which will be interpreted for when the Federal Reserve is likely to next raise interest rates. Furthermore, U.S. oil futures held above $50 per barrel as the entire crude forward curve pushed above that level in a sign that financial markets have increasing confidence in the sector.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 6.84% from its previous close of 6.82% on Thursday.
The benchmark five year yields were trading 1 basis point higher at 6.72% from its previous close of 6.71% on Thursday.