Bond yields edged higher on Wednesday, tracking a rise in U.S. Treasury yields and firm crude oil prices that make emerging market debt less attractive for investors.
In the global market, U.S. Treasury yields rose on Tuesday on strong Wall Street gains and in line with European government yields after a European Central Bank official said the ECB's massive bond purchase program may not be continued later this year. Furthermore, oil prices were stable, not far off mid-2015 highs reached the previous session, as strong demand and ongoing efforts led by OPEC and Russia to curb production tightened the market.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.40% from its previous close of 7.39% on Tuesday.
The benchmark five-year interest rates were trading flat at its previous close at 7.21% on Tuesday.