Bond yields remained steady on Wednesday amid lack of fresh triggers. Though, the Reserve Bank of India (RBI) said it would inject more “durable” liquidity over the next 12 months by buying bonds via open market operation.
In the global markets, U.S. Treasury yields fell on Tuesday led by long-dated bonds, which touched their lowest in more than a month, as weak economic data in the United States and Europe soured the outlook for growth and boosted investor demand for safe-haven government debt. Furthermore, Oil prices jumped on Wednesday, supported by growing expectations that exporters will agree to freeze their output amid global oversupply, although Iran's plans to boost production are seen as capping bigger gains.
Back home, the yields on new 10 year Government Stock were trading flat from its previous close at 7.46% on Tuesday.
The benchmark five-year interest rates were trading 4 basis points lower at 7.45% from its previous close at 7.49% on Tuesday