Bond yields edged lower on Wednesday amid bets that the nation's Monetary Policy Committee will deliver a rate cut later in a day and the central bank will roll back the requirement for lenders to maintain incremental cash reserve ratio.
In the global market, most U.S. Treasury yields were little changed on Tuesday, holding in narrow ranges as traders awaited possible clues from the European Central Bank on its bond purchase program following its policy meeting on Thursday. Furthermore, oil prices fell on persistent doubts a planned crude production cut led by OPEC and Russia would be deep enough to end a supply overhang that has dogged markets for over two years.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 6.18% from its previous close of 6.20% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point higher at 6.16% from its previous close of 6.15% on Tuesday.
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