Bond yields edged higher on Friday, as investors remained concerned ahead of the weekly debt sale today.
In the global market, longer-dated U.S. Treasury yields fell on Thursday, flattening the yield curve as a smaller-than-expected increase in the consumer price index in April reduced fears that domestic inflation is picking up steam as the labor market tightens. Furthermore, Oil prices dipped away from multi-year highs reached the previous session on hopes that alternative supplies could replace a looming drop in Iranian exports when U.S. sanctions against Tehran are re-imposed.
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 Thursday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.83% from its previous close of 7.82% on Thursday.