Bond yields traded marginally higher on Friday as investors balanced a surge in oil prices against plunging US Treasury yields, while fresh supply kept demand tepid.
In the global market, U.S. Treasury yields fell sharply on Thursday, with investors turning to safe havens amid a steep sell-off in stocks driven by concerns around the artificial intelligence trade and surging oil prices. Furthermore, Oil prices traded higher on Friday amid reports of escalating tensions in West Asia and reports that the US was considering plans to attack Iran after the US mid-term elections.
Back home, the yields on new 10-year Government Stock were trading 1 basis point higher at 7.47% from its previous close of 7.46% on Thursday.
The benchmark five-year interest rates were trading 7 basis points higher at 7.35% from its previous close of 7.28% on Thursday.