Bond yields traded flat on Wednesday as traders were reworking their assumptions about future rate cuts, which seem less likely after the release of the minutes of the monetary policy committee meeting.
In the global market, longer-dated U.S. Treasury yields rose to session highs on Tuesday after the release of data on the U.S housing market that were slightly stronger than expected. Furthermore, Oil prices edged down on Wednesday as the market waits to see how OPEC and non-OPEC members carry through on planned supply cuts in the new year.
Back home, the yields on new 10 year Government Stock were trading flat at its previous close at 6.59% on Tuesday.
The benchmark five-year interest rates were trading 2 basis points lower at 6.70% from its previous close of 6.72% on Tuesday.
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