Bond yields traded higher on Wednesday, as traders remain concerned with data showing that merchandise export growth slowed for a second straight month to just 0.34% in December 2018, while imports contracted by 2.44%, the first drop since September 2016, narrowing trade deficit to $13.1 billion, its lowest since February 2018.
In the global market, US Treasury yields edged higher in choppy trading on Tuesday on prospects for a resolution concerning Britain's exit from the European Union despite being rejected by British lawmakers. Furthermore, Oil prices dipped on increasing signs of a global economic slowdown, although OPEC-led supply cuts helped support Brent crude above $60 per barrel.
Back home, the yields on new 10 year Government Stock were trading 8 basis points higher at 7.55% from its previous close of 7.47% on Tuesday.
The benchmark five-year interest rates were trading 10 basis points higher at 7.38% from its previous close of 7.28% on Tuesday.