Bond yields traded higher on Friday, despite Brent crude oil price stayed below $60-per-barrel mark, even while market awaited decision on a production cut from the Organization of Petroleum Exporting Countries (OPEC).
In the global market, US Treasury yields fell on Thursday, with 10-year yields hitting three-month lows, as traders scaled back expectations on the number of rate hikes the Federal Reserve would implement amid weakening economic data and market volatility. Furthermore, Oil prices fell, pulled down by OPEC's decision to delay a final decision on output cuts, awaiting support from non-OPEC heavyweight Russia.
Back home, the yields on new 10 year Government Stock were trading 4 basis points higher at 7.46% from its previous close of 7.42% on Thursday.
The benchmark five-year interest rates were trading 4 basis points higher at 7.41% from its previous close of 7.37% on Thursday.