Bond yields traded higher on Friday, as a weekly auction today will add to supply and on uncertainty about likely central bank steps to support the debt market.
In the global market, U.S. Treasury yields fell on Thursday after cases of the novel coronavirus rose in several U.S. states, deepening concerns that the economy may not bounce back as quickly as hoped. Furthermore, oil prices pushed higher in early trade, building on gains in the previous session, after OPEC producers and allies promised to meet their supply cut commitments and two major oil traders said demand was recovering well.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 5.83% from its previous close of 5.82% on Thursday.
The benchmark five-year interest rates were trading 1 basis point lower at 5.41% from its previous close of 5.42% on Thursday.