Bond yields edged lower on Thursday as the government data showed that the production growth of eight key infrastructure sectors slowed down to a six-month low of 3.5 per cent in April 2023 due to a decline in the output of crude oil, natural gas, refinery products and electricity.
In the global market, U.S. Treasury yields mostly moved lower on Wednesday on stronger jobs data, ahead of a key U.S. congressional debt ceiling vote. Furthermore, oil prices slumped by another 3% early on Wednesday, extending the 4% losses from Tuesday after manufacturing data from China disappointed and the U.S. dollar strengthened.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 6.97% from its previous close of 6.98% on Wednesday.
The benchmark five-year interest rates were trading flat with its previous close of 6.91% on Wednesday.