Bond yields traded lower on Thursday as investors keep an eye on an upcoming key U.S. inflation reading for May.
In the global market, U.S. Treasury yields fell across the curve on Wednesday after the reopening of the Strait of Hormuz, which eased inflationary pressures and drove Oil prices lower. Furthermore, Oil prices extended their decline on Thursday, edging closer to pre-war levels as stranded tankers exited the Strait of Hormuz following an initial accord to end the U.S.-Israeli war with Iran, easing supply concerns.
Back home, the yields on new 10 year Government Stock were trading 02 basis points lower at 6.76% from its previous close of 6.78% on Wednesday.
The benchmark five-year interest rates were trading 01 basis point lower at 6.41% from its previous close of 6.42% on Wednesday.