Bond yields traded higher on Friday after sharp rise in crude oil prices dampened demand for the government bonds.
In the global market, U.S. Treasury yields held steady on Friday as traders anticipated the release of key labor market data, due later in the day. Furthermore, Oil prices climbed on Friday amid reports that the Yemeni Houthis have struck Saudi Arabia’s southern province of Najran in the latest flare-up of Middle Eastern hostilities.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 6.78% from its previous close of 6.76% on Thursday.
The benchmark five-year interest rates were 5 basis points higher at 6.36% from its previous close of 6.31% on Thursday.