Bond yields traded marginally higher on Thursday despite escalating Middle East tensions as well as concerns over surging oil prices.
In the global market, U.S. Treasury yields held near multi-month highs on Wednesday, as surging crude oil prices and ongoing Middle East hostilities reinforced fears of persistent inflation, prompting investors to price in a more hawkish path for Federal Reserve policy. Furthermore, Oil prices continued to climb on Thursday, following reports of attacks on tankers off the coast of Saudi Arabia and the U.S. renewed threats to escalate strikes against Iran.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.81% from its previous close of 6.80% on Wednesday.
The benchmark five-year interest rates were trading flat with its previous close of 6.47% on Wednesday.