Bond yields traded lower on Friday as U.S. President Donald Trump has said there will be no trade negotiations with India until a dispute over tariffs is resolved, following his administration's decision to double tariffs on Indian imports.

In the global market, U.S. Treasury yields edged higher in late day trading Thursday after President Donald Trump said he will nominate Stephen Miran, chair of the Council of Economic Advisors, to serve on the Federal Reserve Board of Governors, replacing Adriana Kugler, who resigned last Friday. Furthermore, oil prices edged lower on Thursday, paring early gains after the Kremlin announced that Russian President Vladimir Putin will meet U.S. President Donald Trump in the coming days, raising expectations for a diplomatic end to the war in Ukraine.

Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 6.38% from its previous close of 6.39% on Thursday. 

The benchmark five-year interest rates were trading 3 basis points higher at 6.15% from its previous close of 6.12% on Thursday.