Bond yields traded lower on Wednesday as U.S. Treasury yields fell for a third consecutive session yesterday, making emerging-market debt attractive for investors.
In the global market, U.S. Treasury yields fell to three-week lows on Tuesday as stock markets tumbled, raising demand for low-risk U.S. government debt, with analysts citing frustration with the pace of the Trump administration's fiscal plans as a factor behind the move. Furthermore, Oil prices dipped as rising crude stocks in the United States underscored an ongoing global fuel supply overhang despite an OPEC-led effort to cut output.
Back home, the yields on new 10 year Government Stock were trading 3 basis points lower at 6.86% from its previous close of 6.89% on Tuesday.
The benchmark five-year interest rates were trading 5 basis points lower at 6.98% from its previous close of 7.03% on Tuesday.