Bond yields traded higher on Wednesday, as the rupee is expected to fall against the dollar and as crude oil prices continued to rise.
In the global market, US Treasury yields on Tuesday rose across maturities to weekly highs as fears of a global trade war abated a day after the United States and Mexico agreed on an overhaul of the North America Free Trade Agreement, and following fair demand at auction for $37 billion of five-year notes. Furthermore, Oil markets were stable, buoyed by falling supplies from Iran ahead of US sanctions but held in check by rising production outside the Organization of the Petroleum Exporting Countries.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.91% from its previous close of 7.90% on Tuesday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.98% from its previous close of 7.96% on Tuesday.