Bond yields edged marginally higher on Thursday ahead of the upcoming debt supply at the end of the week.
In the global market, U.S. bond yields fell on Wednesday as investors continued to bet that inflation will ease and the Federal Reserve will cut interest rates in 2024, with rates extending their drop in the afternoon after the Treasury Department sold a slug of 5-year Treasury notes. Furthermore, Oil prices rose on Thursday as persistent fears over escalating tensions in the Middle East outweighed easing concerns about transport disruptions as some global shipping firms said they were returning to the Red Sea route.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.21% from its previous close of 7.20% on Wednesday.
The benchmark five-year interest rates were trading flat with its previous close of 7.10% on Wednesday.