Bond yields edged higher on Thursday amid concerns that higher global crude oil prices may fan domestic inflation going ahead.
In the global market, the yield on the benchmark U.S. government note rose back above the psychologically significant level of 3 percent on Wednesday afternoon following fair investor demand at auction for $25 billion in new 10-year notes. Furthermore, Oil prices clocked up more multi-year highs as traders adjusted to the prospects of renewed U.S. sanctions against major crude exporter Iran amid an already tightening market.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.73% from its previous close of 7.71% on Wednesday.
The benchmark five-year interest rates were trading 3 basis points higher at 7.79% from its previous close of 7.76% on Wednesday.