Bond yields remained steady on Wednesday as investors remained concerned by the statement of Reserve Bank of India (RBI) Deputy Governor H R Khan that the central bank was considering new measures in debt markets, including working on a trading platform for repos and corporate bonds and looking at building bond indexes.
In the global markets, U.S. Treasuries prices rose on Tuesday after a drop in domestic durable goods orders in September reinforced the view of a slowdown in U.S. economic growth in the third quarter, supporting investor demand for low-risk government bonds. Furthermore, U.S. crude futures rose from multi-week lows in thin early Asian trade on Wednesday after an industry group reported that stocks fell at the Cushing storage hub in Oklahoma, delivery point for West Texas Intermediate oil contracts.
Back home, the yields on new 10 year Government Stock were trading flat from its previous close at 7.60% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point lower at 7.66% from its previous close at 7.67% on Tuesday.