Bond yields edged higher on Thursday, as investors remained concern ahead of a fresh supply of debt today.
In the global market, the benchmark U.S. Treasury 10-year yield edged above 3 percent on Wednesday as jitters about growing federal borrowing spurred more selling in the U.S. government bonds, paving the path for it to visit levels not seen since July 2011. Furthermore, Oil prices rose, supported by an expectation that the United States will re-impose sanctions against Iran, a decline in output in Venezuela and ongoing strong demand.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.75% from its previous close of 7.74% on Wednesday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.74% from its previous close of 7.73% on Wednesday.