Bond yields traded higher on Friday as investors booked profit triggered by the US Fed’s stance of ‘gradual’ pace of monetary tightening.
In the global market, U.S. Treasury yields rose on Thursday from more than one-week lows on the view that they had fallen too sharply in the prior session after the Federal Reserve maintained its outlook for only a gradual pace of interest rate increases this year. Furthermore, Oil prices edged up as a drawdown in U.S. crude inventory eased concerns about a global supply glut.
Back home, the yields on new 10 year Government Stock were trading 3 basis points higher at 6.87% from its previous close of 6.84% on Thursday.
The benchmark five-year interest rates were trading flat at its previous close at 7.06% on Thursday.