Bond yields traded flat on Wednesday, ahead of a weekly supply of Treasury Bills, even as traders closely watch the movement of crude oil prices for further cues.
In the global market, US Treasury yields fell on Tuesday with longer-dated yields hitting five-week lows as worries about renewed trade tension between China and the United States and its impact on global economic growth spurred safe-haven demand for bonds. Furthermore, oil prices stabilised as markets remained relatively tight amid US sanctions on crude exporters Iran and Venezuela.
Back home, the yields on new 10 year Government Stock were trading flat at its previous close of 7.38% on Tuesday.
The benchmark five-year interest rates were trading 4 basis points lower at 7.24% from its previous close of 7.28% on Tuesday.