Bond yields edged higher on Friday ahead of a weekly debt auction, but state-run banks will likely step in to prop up prices.
In the global market, U.S. Treasury yields rose on Thursday in line with their European counterparts after the European Central Bank prolonged its bond purchase program, as expected, but stunned traders by scaling back on how much bonds it will buy each month. Furthermore, oil prices extended gains, buoyed by growing optimism that non-OPEC producers might agree to cut output following a cartel agreement to limit production.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 6.42% from its previous close of 6.40% on Thursday.
The benchmark five-year interest rates were trading 2 basis points higher at 6.42% from its previous close of 6.40% on Thursday.