Bond yields edged higher on Thursday tracking a consistent spike in U.S. Treasury yields, while high oil prices stoked inflation fears.
In the global market, U.S. Treasury yields were higher on Wednesday, as investors digested a fresh batch of economic data and Treasury auctions. Furthermore, Oil prices rose on Thursday on mounting supply tightness concerns amid disruptions to Russian exports, the potential for major producers to cut output, and the partial shutdown of a U.S. refinery.
Back home, the yields on new 10 year Government Stock were trading 2 basis point higher at 7.30% from its previous close of 7.28% on Wednesday.
The benchmark five-year interest rates were trading 3 basis points higher at 7.04% from its previous close of 7.01% on Wednesday.