Bond yields edged higher on Friday, after minutes of the Monetary Policy Committee’s latest meeting hinted some members may vote for withdrawal of accommodation at the next meeting in June.
In the global market, long-dated Treasury yields on Thursday traded at their highest levels in nearly a month, but shorter maturities saw a slight pullback in rates, as inflation expectations rose to the highest level in about three years. Furthermore, oil prices were firm near three-year highs reached earlier this week as ongoing OPEC-led supply cuts gradually drawn down excess supplies.
Back home, the yields on new 10 year Government Stock were trading 8 basis points higher at 7.71% from its previous close of 7.63% on Thursday.
The benchmark five-year interest rates were trading 11 basis points higher at 7.64% from its previous close of 7.53% on Thursday.