Bond yields edged higher on Wednesday, tracking gains in crude oil prices and U.S. Treasury yields after U.S. President Donald Trump withdrew from the nuclear deal with Iran.
In the global market, U.S. government bond yields were modestly higher at close as President Donald Trump's announcement that the country would withdraw from its nuclear deal with Iran appeared to have already been priced in by the market. Furthermore, Oil prices rose more than 2 percent to a three-and-a-half year high after U.S. President Donald Trump abandoned an international nuclear deal with Iran, likely curbing the OPEC-member's crude exports in an already tight market.
Back home, the yields on new 10 year Government Stock were trading 12 basis points higher at 7.70% from its previous close of 7.58% on Tuesday.
The benchmark five-year interest rates were trading 12 basis points higher at 7.77% from its previous close of 7.65% on Tuesday.