Bond yields edged higher on Thursday, as investors were on the sidelines on increasing global crude oil prices.
In the global market, US Treasury yields were little changed on Wednesday afternoon as an overnight drop in longer-dated yields and a flattening of the yield curve were mostly reversed by an upward revision of US second-quarter gross domestic product. Furthermore, oil prices inched up, extending solid gains from the previous session on a fall in US crude inventories and expected disruptions to supply from Iran and Venezuela.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.94% from its previous close of 7.92% on Wednesday.
The benchmark five-year interest rates were trading 3 basis points higher at 8.00% from its previous close of 7.97% on Wednesday.