Bond yields remained flat on Wednesday despite Finance Minister’s statement that India would sail through global turmoils without much adverse impact. The prices of the bonds are likely to rise on an expectation that central bank will cut interest rate later this month.
In the global market, U.S. Treasuries prices rose on Tuesday as lingering worries about the global economy triggered a selloff in stock and commodity markets worldwide and revived safe-haven demand for lower-risk government debt. Furthermore, Oil prices edged up early on Wednesday after U.S. crude stocks were estimated to have dropped last week, stripping some supplies out of an oversupplied market that has seen prices more than halve since June 2014.
Back home, the yields on new 10 year Government Stock were trading flat from its previous close at 7.71% on Tuesday.
The benchmark five year yields Stock were trading flat from its previous close at 7.86% on Tuesday.