Bond yields traded higher on Thursday due to elevated oil prices and higher U.S. bond yields amid persisting concerns about the situation in the Middle East.
In the global market, Treasury yields wavered on Wednesday as traders weighed lighter-than-expected U.S. inflation data for August as they awaited the September jobs report due later in the week. Furthermore, Oil prices rose on Thursday, reversing earlier losses, following a report that Chinese refiners have suspended October fuel exports, further squeezing war-constrained energy markets.
Back home, the yields on new 10-year Government Stock were trading 3 basis points higher at 7.21% from its previous close of 7.18% on Wednesday.
The benchmark five-year interest rates were trading 3 basis points lower at 6.86% from its previous close of 6.89% on Wednesday.
