Bond yields edged higher on Thursday, after a faster-than-expected economic growth in the third quarter of this fiscal year boosts expectations of monetary policy tightening going ahead.
In the global market, the spread between short- and longer-dated U.S. Treasury yields shrank further on Wednesday after Federal Reserve Chairman Jerome Powell's optimistic outlook on the economy raised bets the U.S. central bank may raise interest rates faster. Furthermore, oil prices extended declines after official data showed a larger-than-expected increase in U.S. crude inventories and a surprise build in gasoline stocks.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.74% from its previous close of 7.72% on Wednesday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.48% from its previous close of 7.46% on Wednesday.