Bond yields traded lower on Friday as oil prices climbed above the $100-per-barrel mark after Yemen's Houthis targeted Saudi oil tankers in the Red Sea.
In the global market, U.S. Treasury yields advanced on Thursday as Brent crude oil’s climb above $100 per barrel raised inflation fears, and as weekly claims for unemployment insurance tumbled below 200,000. Furthermore, Oil prices headed for weekly gains on Friday, as Houthi attacks on tankers in the Red Sea sparked worries about the closure of a second shipping chokepoint, while Kazakhstan temporarily cut output after its main export route was forced to shut.
Back home, the yields on new 10 year Government Stock were trading 3 basis points lower at 6.81% from its previous close of 6.84% on Thursday.
The benchmark five-year interest rates were trading 1 basis point lower at 6.48% from its previous close of 6.49% on Thursday.