Bond yields traded lower on Wednesday, as investors continued to build positions amid hopes of easy monetary policies by central banks across the world. Meanwhile, a pickup in monsoon rains eased concern that a reduction in crop output will stoke food costs.
In the global market, US Treasury prices held steady on Tuesday as worries about sluggish economic growth countered relief from a recovery in stock markets around the globe which were crushed following Britain's vote to leave the European Union. Furthermore, oil rose on Wednesday as financial traders poured money back into commodities following the initial shock of Britain's vote to leave the European Union, and as a potential strike in Norway and crisis in Venezuela threatened to cut supply
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 7.44% from its previous close at 7.45% on Tuesday.
The benchmark five-year interest rates were trading flat from its previous close at 7.40% on Tuesday.