Bond yields edged higher on Thursday, as investors remained cautious ahead of a weekly auction of notes tomorrow.
In the global market, the U.S. yield curve flattened to a decade-low spread between 5-year and 30-year yields and two-year Treasury yields hit a nine-year high on Wednesday on expectations the Federal Reserve will continue to tighten monetary policy this year. Furthermore, Oil prices rose on Thursday on a reported decline in U.S. crude inventories, and as rebels in Nigeria threatened to attack the country's petroleum infrastructure.
Back home, the yields on new 10 year Government Stock were trading 3 basis points higher at 7.45% from its previous close of 7.42% on Wednesday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.24% from its previous close of 7.22% on Wednesday.