Bond yields edged higher on Thursday, as crude oil prices extended gains and as the rupee is expected to fall amid concerns over the ensuing global trade war.
In the global market, U.S. Treasury yields fell to four-week lows on Wednesday on concerns that trade wars will harm economic growth, even after U.S. President Donald Trump indicated that he would not impose restrictions on Chinese investments in U.S. technology firms. Furthermore, U.S. oil prices dipped from three-and-a-half year highs as physical markets remained well supplied despite record demand and ongoing disruptions.
Back home, the yields on new 10 year Government Stock were trading 6 basis points higher at 7.93% from its previous close of 7.87% on Wednesday.
The benchmark five-year interest rates were trading 9 basis points higher at 7.98% from its previous close of 7.89% on Wednesday.