Bond yields edged lower on Thursday amid bets the nation’s official weather forecaster will raise its assessment for the annual monsoon rainfall that is expected to hit the country’s southern part by early June.
In the global market, U.S. Treasury yields were little changed on Wednesday as a weak 10-year note auction offset concerns about a political storm over U.S. President Donald Trump's ouster of the FBI chief that could hinder his plans for tax cuts and infrastructure spending. Furthermore, oil prices rose and Brent was firmly back over $50 per barrel, as a fall in U.S. crude inventories and a more severe than expected cut in Saudi supplies to Asia tightened the market.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 6.93% from its previous close of 6.94% on Tuesday.
The benchmark five-year interest rates were trading flat at its previous close at 7.06% on Tuesday.