Bond yields were trading lower tracking lower crude oil prices even as traders await retail inflation data for the month of February, which is scheduled to be released on Thursday. Industrial production data for January also would be announced on the similar day. I.e. Thursday.
On the global front, U.S. Treasury debt yields fell on Tuesday, as Europe's massive bond-buying program dropped yields there, adding to the relative value of U.S. Treasuries. Meanwhile, Brent crude rose towards $57 a barrel on Wednesday, paring some of the previous session's sharp losses, after data showed U.S. crude stocks fell for the first time in two months.
Back home, the yields on new 10 year Government Stock 2023 was trading 1 basis point lower at 7.74% from its previous close of 7.75% on Tuesday.
The benchmark five-year interest rate swaps was trading 1 basis point lower at 7.09% from its previous close of 7.10 on Tuesday.
The Reserve Bank of India has announced the auction of 182 and 91 day Government of India Treasury Bills for notified amount of Rs 6,000 and Rs 8,000 crore respectively. The auction will be conducted on March 11, 2015 using 'Multiple Price Auction' method. The allocation to the non-competitive bidders will be outside the notified amount at the discretion of the Bank.