Bond yields edged higher on Wednesday, as investors awaited the U.S. Federal Reserve's widely expected interest rate hike at the conclusion of its two-day meeting later today.
In the global market, Two-year Treasury note yields hit more than nine-year highs on Tuesday as investors awaited the conclusion of the Federal Reserve’s two-day meeting on Wednesday, when the U.S. central bank is widely expected to raise interest rates for the first time this year. Furthermore, Oil prices rose, lifted by tensions in the Middle East and healthy demand, although rising U.S. output continued to weigh on markets.
Back home, the yields on new 10 year Government Stock were trading 5 basis points higher at 7.67% from its previous close of 7.62% on Tuesday.
The benchmark five-year interest rates were trading 3 basis points higher at 7.41% from its previous close of 7.38% on Tuesday.