Bond yields remained steady on Tuesday amid lack of fresh triggers. Meanwhile, investors remained cautious after the central bank left key rates unchanged yesterday, but highlighted upside risks to inflation, raising concerns that future monetary easing may be delayed.
In the global market, U.S. Treasury prices rose on Tuesday, boosted by expectations that the Federal Reserve will not raise interest rates for several months, but briefly pared gains after government had to pay more to sell new three-year notes. Furthermore, Oil prices stood steady near their highest level in about eight months on Wednesday helped by industry data showing a larger-than-expected drawdown in U.S. crude inventories and by worries about attacks on Nigeria's oil industry.
Back home, the yields on new 10 year Government Stock were trading flat from its previous close at 7.48% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.43% from its previous close at 7.42% on Tuesday.