Bond yields edged higher on Wednesday, tracking an uptick in crude oil prices.
In the global market, US Treasury yields fell on Tuesday as Federal Reserve Chair Jerome Powell stood by the central bank's ‘patient’ stance before raising interest rates again, even as he expected solid economic growth in 2019. Furthermore, Oil prices rose after a report of declining crude inventories in the country and as producer club OPEC seemed to stick to its supply cuts despite pressure from US President Donald Trump.
Back home, the yields on new 10 year Government Stock were trading 8 basis points higher at 7.67% from its previous close of 7.59% on Tuesday.
The benchmark five-year interest rates were trading 11 basis points higher at 7.17% from its previous close of 7.06% on Tuesday.