Bond yields remained steady on Wednesday at its previous close as Finance Minister Arun Jaitley recommended the central bank to cut interest rates after inflation cooled down.
In the global market, U.S. Treasury yields rose on Tuesday as investors awaited the release on Wednesday of minutes of the Federal Reserve's July meeting, which will be evaluated for any new signs that an interest rate increase is likely in September. Furthermore, Crude-oil futures retreated again in Asian trade Wednesday as the downtrend in Chinese equity markets continued to sour market sentiment, even as oversupply concerns still pressure oil prices.
Back home, the yields on new 10 year Government Stock were trading flat from its previous close at 7.74% on Monday.
The benchmark five year yields were trading 1 basis point lower at 7.86% from its previous close of 7.87% on Monday