Bond yields edged lower on Wednesday as banks remain flush with funds, while investors eye a policy rate cut as early as next month.
In the global market, Most U.S. Treasuries were steady on Tuesday after the U.S. Treasury Department saw solid demand for its $34 billion sale of five-year notes, the second sale of $88 billion in new supply this week. Furthermore, oil prices edged up in anticipation of an OPEC-led crude production cut that is planned to be finalised by the end of the month, through trading was thin ahead of the U.S. Thanksgiving holiday on Thursday.
Back home, the yields on new 10 year Government Stock were trading 3 basis points lower at 6.28% from its previous close of 6.31% on Tuesday.
The benchmark five-year interest rates were trading 2 basis points lower at 6.26% from its previous close of 6.28% on Tuesday.