Bond yields edged lower on Wednesday, tracking an overnight fall in US Treasury yields.
In the global market, concerns about the US-China trade war and Italy's budget policy sent benchmark US Treasury yields to their lowest levels since September 2017 on Tuesday and helped fuel demand for Treasury Department debt auctions. Furthermore, oil prices fell on concerns the Sino-US trade war could trigger a global economic downturn, but relatively tight supply amid OPEC output cuts and political tensions in the Middle East offered some support.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 7.13% from its previous close of 7.15% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point lower at 6.90% from its previous close of 6.91% on Tuesday.