Bond yields edged higher on Thursday, amid concerns that rising crude oil prices would cause inflation to accelerate further.
In the global market, U.S. Treasury yields jumped to 10-month highs on Wednesday after Bloomberg News reported that Chinese officials have recommended the country slow or halt its purchases of the U.S. bonds. Furthermore, oil prices held near three-year highs, supported by a surprise drop in U.S. production and lower crude inventories, although analysts increasingly warned of signs that fuel markets have overheated.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.45% from its previous close of 7.44% on Wednesday.
The benchmark five-year interest rates were trading flat at its previous close at 7.26% on Wednesday.