Bond yields traded lower on Wednesday, as the benchmark Brent crude hit an eight-month low, while the central bank announced another open market purchase of notes.
In the global market, US Treasury yields slid to more than one-week lows on Tuesday hurt by a sharp drop in oil prices, which suggested lower inflation going forward and affirmed a gradual pace of interest rate increases by the Federal Reserve. Furthermore, Oil markets struggled to find their footing after plunging by 7 percent the previous session, with surging supply and the spectre of faltering demand keeping investors on edge.
Back home, the yields on new 10 year Government Stock were trading 3 basis points lower at 7.73% from its previous close of 7.76% on Tuesday.
The benchmark five-year interest rates were trading flat at its previous close at 7.63% on Tuesday.