Bond yields traded higher on Thursday as crude oil prices fell after tariff threats by U.S. President Donald Trump, and concerns about possible excess supply in the market due to the Trump administration's plan to maximize oil and gas production.
In the global market, Treasury yields finished higher on Wednesday, with the policy-sensitive 2-year rising for a third consecutive session, as traders continued to weigh the prospect of tariffs under the second Trump administration. Furthermore, Oil edged lower after President Donald Trump threatened tariffs on China and the European Union, while traders continued to assess the fallout from unprecedented US sanctions on Russia.
Back home, the yields on new 10 year Government Stock were trading 13 basis points higher at 6.84% from its previous close of 6.71% on Wednesday.
The benchmark five-year interest rates were trading 11 basis points higher at 6.77% from its previous close of 6.66% on Wednesday.