Bond yields traded higher on Wednesday, as the local currency is likely to extend losses on rumors that central bank head Urjit Patel is likely to resign.
In the global market, Yields on US Treasury bonds were steady in light trading on Tuesday as investors held off on making big moves ahead of this week's spate of economic data. Furthermore, Oil prices climbed for the first time in three days, but rising supply and fears over the outlook for demand amid the US-China trade war kept pressure on the market.
Back home, the yields on new 10 year Government Stock were trading 3 basis points higher at 7.86% from its previous close of 7.83% on Tuesday.
The benchmark five-year interest rates were trading 5 basis points higher at 7.85% from its previous close of 7.80% on Tuesday.