Bond yields edged higher on Wednesday, on account of lower demand from corporates and banks.
In the global market, U.S. Treasury yields fell on Tuesday, flattening the yield curve to a level not seen in a decade, as $24 billion worth of three-year government debt, the first leg of this week's $64 billion quarterly refunding, fetched average demand. Furthermore, Oil markets dipped as traders took profits after crude prices hit two-year highs, but markets remained well supported by expectations of strong Chinese demand and tightening supplies.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.94% from its previous close of 6.93% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point higher at 6.78% from its previous close of 6.77% on Tuesday.