Bond yields traded flat on Wednesday as investors were adopting a cautious approach ahead of the GST panel meet in Srinagar starting from tomorrow amid political & legal turmoil surrounding US President Donald Trump.
In the global market, U.S. Treasury yields fell on Tuesday after data showed U.S. homebuilding unexpectedly fell in April, adding to recent economic weakness that has raised new doubts about how many times the Federal Reserve will raise interest rates this year. Furthermore, Oil prices fell 1 percent after data showed an increase in U.S. crude inventories, stoking concerns that markets remain oversupplied despite efforts by top producers Saudi Arabia and Russia to cut output.
Back home, the yields on new 10 year Government Stock were trading flat at its previous close at 6.84% on Tuesday.
The benchmark five-year interest rates were trading flat at its previous close at 7.00% on Tuesday.