Bond yields traded lower on Wednesday on the back of global funds which are snapping up the nation’s debt after being allowed greater access to the market. Investors got some support with the Finance Ministry statement that reform measures would continue in orders to boost economic activity.
In the global market, U.S. Treasuries prices rose on Tuesday on concerns over global growth after data showed China's imports plunged in September, while continued expectations for a Federal Reserve interest rate liftoff next year rather than in 2015 also supported prices. Furthermore, Crude oil futures slipped on Wednesday, extending losses from the prior session when an International Energy Agency report said the market would stay oversupplied for at least another year.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 7.55% from its previous close at 7.56% on Tuesday.
The benchmark five-year interest rates were trading steady from its previous close of 7.65% on Tuesday.