Bond yields traded higher on Friday, as investors remained on the sidelines with former Union Finance Minister P. Chidambaram blamed the government's ‘heavy-handed’ approach to the NPA problem for the sharp decline in export credit.
In the global market, US long-dated Treasury yields fell on Thursday, as persistent US-China trade tensions and uncertainty over Brexit spurred investors to seek the safety of government bonds. Furthermore, Oil prices dipped after falling in the previous session as U.S. President Donald Trump urged OPEC to lower crude prices ahead of its meeting in Algeria this weekend.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 8.08% from its previous close of 8.07% on Wednesday.
The benchmark five-year interest rates were trading 4 basis point higher at 8.13% from its previous close of 8.09% on Wednesday.