Bond yields traded lower on Friday, an overnight slump in crude oil prices and US Treasury yields as US President Donald Trump's imposition of tariffs on Mexico is expected to hurt global growth.
In the global market, Benchmark US Treasury yields held just above 20-month lows on Thursday as concerns about the US-China trade war denting global growth sustained demand for the safe haven debt. Furthermore, oil prices dropped 1.5% percent to their lowest in nearly three months after US President Donald Trump said he would impose tariffs on imports from Mexico, stoking fears about global economic growth.
Back home, the yields on new 10 year Government Stock were trading 9 basis points lower at 7.04% from its previous close of 7.13% on Thursday.
The benchmark five-year interest rates were trading 6 basis points lower at 6.85% from its previous close of 6.91% on Thursday.