Bond yields traded higher on Friday, as investors remained cautious with the central bank’s statement that the total external commercial borrowings (ECB) will now be rule-based and will be capped at 6.5% of the gross domestic product.
In the global market, US Treasury yields fell to more than eight-month lows on Thursday, and the yield curve flattened, as investors evaluated the Federal Reserve's moves to tighten monetary policy. Furthermore, Oil prices climbed after tumbling 5 percent in the last session, with OPEC production cuts that start next month seen being deeper than previously expected.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.29% from its previous close of 7.27% on Thursday.
The benchmark five-year interest rates were trading 1 basis point lower at 7.23% from its previous close of 7.24% on Thursday.
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