Bond yields edged higher on Thursday with a private report that the country's current account deficit may narrow to 1.4 per cent of GDP or $50 billion in 2023 as compared to 2.4 per cent in the previous year as net remittances flows are expected to be $104 billion.
In the global market, U.S. Treasury yields rose on Wednesday amid some cautious optimism around lawmakers' talks to raise the U.S. debt ceiling and on the back of strengthening expectations of higher-for-longer interest rates. Furthermore, oil prices remained steady on Wednesday despite a surprise rise in U.S. crude inventories.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.98% from its previous close of 6.97% on Wednesday.
The benchmark five-year interest rates were trading 2 basis points higher at 6.92% from its previous close of 6.90% on Wednesday.