Bond yields traded higher on Friday as the central bank did not announce open market operation. Yields could also move higher before a debt sale today.
In the global market, strong demand for the $24 billion in 30-year U.S. Treasury bonds on auction Thursday drove longer-dated yields lower and the yield curve flatter in afternoon trade. Furthermore, oil rose, extending a sharp rally overnight that saw Brent rise above $50 for the first time since March, as coronavirus vaccination rollouts kept hopes alive that demand for crude would build up next year.
Back home, the yields on new 10 year Government Stock were trading 5 basis points higher at 5.96% from its previous close of 5.91% on Thursday.
The benchmark five-year interest rates were trading 7 basis points higher at 5.14% from its previous close of 5.07% on Thursday.