Bond yields edged higher on Thursday, tracking the slight gains overnight in U.S. yields and ahead of a scheduled weekly debt sale on April 21, 2017.
In the global market, U.S. Treasury yields rose on Wednesday as traders waited on a new catalyst for direction, after a rally on Tuesday sent yields to five-month lows prompted by concerns about the French election and rising geopolitical tensions. Furthermore, Oil prices regained some ground after steep losses the previous day, with a slight drop in U.S. crude inventories stoking hopes that a push to rein in global oversupply could be gathering at least some momentum.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.86% from its previous close of 6.85% on Wednesday.
The benchmark five-year interest rates were trading flat at its previous close at 6.96% on Wednesday.