Bond yields traded higher on Wednesday amid lack of fresh triggers as overall mood among foreign and local investors remained cautious due to the rally in the local equity market.
In the global market, U.S. Treasury yields rose to near two-week highs on Tuesday after data showed U.S. manufacturing activity rebounded in February in a sign of economic resilience that weakened investor demand for safe-haven government debt. Furthermore, Oil prices dropped on Wednesday in the wake of industry data that showed a huge build in U.S. crude stockpiles.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.72% from its previous close at 7.70% on Tuesday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.72% from its previous close at 7.70% on Tuesday.
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