Bond yields trade flat on Friday

Bond yields traded flat on Friday as investors remained on the sidelines and refrained from any buying activity ahead of key economic data, industrial production (IIP) for June and consumer price index (CPI) for July, to be released today.

In the global market, U.S. Treasury prices fell on Thursday as a top U.S. central bank official said the Federal Reserve should raise the nation's overnight interest rates this year and as oil prices jumped ahead of Friday's U.S. retail sales data. Furthermore, Oil prices edged up, extending gains from the previous session on expectations that exporters could at an upcoming meeting talk about ways to prop up a market that continues to be dogged by a supply overhang.

Back home, the yields on new 10 year Government Stock were trading flat at its previous close of 7.08% on Thursday.

The benchmark five-year interest rates were trading 1 basis points higher at 7.03% from its previous close at 7.02% on Thursday.