Bond yields traded marginally higher on Wednesday, as investors awaited a statement from the Federal Reserve for clues on the outlook for the U.S. central bank's monetary policy.
In the global market, U.S. Treasury yields jumped by the most in almost five months as stocks hit record highs and demand for safe-haven bonds fell, a day before the Federal Reserve was due to release a statement after its two-day policy meeting. Furthermore, oil prices firmed up to hold near eight-week highs hit in the previous session, on expectations of a drawdown in U.S. stocks and as a rise in shale oil production showed signs of slowing.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.44% from its previous close of 6.43% on Tuesday.
The benchmark five-year interest rates were trading flat at its previous close at 6.53% on Tuesday.