The yields on 10-year 8.79% - 2021 bonds were trading steady at its previous close at 7.81% on Thursday
Bond yields edged tad lower as traders preferred to stay on the sidelines ahead of the budget on February 28, a crucial test of the government’s commitment to fiscal responsibility. However, lower crude oil prices may push up prices later in the session.
On the global front, US 10-year Treasuries slipped on Friday, giving back some of the gains made the previous day, when bonds rose on worries about Europe's economic outlook and data pointing to a tepid US recovery. Meanwhile, Brent crude rebounded above $114 a barrel on Friday but stayed on track for its largest weekly loss since early December, as investors focused on a debate in the United States on when it would pull a plug on its stimulus programme.
Back home, the yields on 10-year 8.79% - 2021 bonds were trading steady at its previous close at 7.81% on Thursday.
The benchmark five-year interest rate swaps were trading 1 basis point lower at 7.23% from its previous close of 7.24% on Thursday.
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