Bond yields edged higher on Wednesday, tracking a rally in crude oil prices that worsens the outlook for inflation.
In the global market, U.S. Treasury yields edged higher on Tuesday as concerns lingered that trade wars could harm economic growth, but safety buying was capped by expectations the Federal Reserve will continue to raise interest rates. Furthermore, Oil prices rose following supply disruptions in Libya and Canada and after U.S. officials told oil importers to stop buying Iranian crude from November.
Back home, the yields on new 10 year Government Stock were trading 4 basis points higher at 7.87% from its previous close of 7.83% on Tuesday.
The benchmark five-year interest rates were trading 5 basis points higher at 7.90% from its previous close of 7.85% on Tuesday.