Bond yields edged higher on Wednesday, as U.S. Treasury prices fall, while higher crude oil prices continued to weigh on investors' sentiments.
In the global market, The U.S. benchmark 10-year Treasury yield rose to 3 percent for the first time in more than four years on Tuesday, reflecting the durability of the U.S. economic expansion and stoking views the three-decade-old bull market in bonds is coming to an end. Furthermore, Oil prices fell back from more than three-year highs reached the previous session as rising U.S. fuel inventories and production weighed on an otherwise bullish market.
Back home, the yields on new 10 year Government Stock were trading 9 basis points higher at 7.77% from its previous close of 7.68% on Tuesday.
The benchmark five-year interest rates were trading 6 basis points higher at 7.77% from its previous close of 7.71% on Tuesday.