Bond yields edged lower on Friday, after the nation’s economy grew at the slowest pace in 13 quarters, raising prospects of further rate cuts.
In the global market, U.S. Treasury prices gained on Thursday after consumer spending data showed continuing low inflation and as tensions with North Korea kept up demand for the safe haven bonds. Furthermore, U.S. crude futures fell in early Asian trading, partly reversing sharp gains from the previous session, amid ongoing turmoil in the oil industry with nearly a quarter of U.S. refining capacity offline.
Back home, the yields on new 10 year Government Stock were trading 4 basis points lower at 6.49% from its previous close of 6.53% on Thursday.
The benchmark five-year interest rates were trading 2 basis points lower at 6.48% from its previous close of 6.50% on Thursday.