Bond yields edged higher on Wednesday, amid concerns of additional supply of notes after the government announced a bank recapitalization plan that includes bank recap bonds.
In the global market, U.S. benchmark 10-year Treasury note yields rose to their highest in more than five months on Tuesday, in line with gains in the European bond market, with a strong U.S. equity performance also adding to overall risk appetite. Furthermore, Oil prices were largely steady in early Asian trade, hovering near a four-week high hit a day earlier after top exporter Saudi Arabia said it was determined to end a supply glut.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 6.80% from its previous close of 6.78% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point higher at 6.70% from its previous close of 6.69% on Tuesday.