Bond yields edged higher on Wednesday as traders awaited U.S. Federal Reserve's monetary policy decision later in the day, while keeping an eye out for a delicately-poised U.S. Presidential election next week.
In the global market, U.S. Treasury prices ended higher on Tuesday after stocks fell to their lowest levels since July, increasing demand for safe-haven assets as uncertainty over next week's U.S. presidential election weighed on investor sentiment. Furthermore, crude oil prices fell for a fourth day, with jittery investors awaiting official U.S. stockpile figures later in the day after less comprehensive industry data showed a surprise build in inventories.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.92% from its previous close of 6.91% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point higher at 6.73% from its previous close of 6.72% on Tuesday.