Bond yields edged higher on Wednesday, tracking gains in crude oil prices.
In the global market, US benchmark Treasury yields fluctuated around the key 2% level on Tuesday as investors weighed the prospect of an ongoing US-China trade war against the likelihood that the Federal Reserve may be less dovish than traders expect. Furthermore, Oil prices rose over 1% to hit their highest in nearly a month as widely-watched data showed US crude stockpiles fell more than expected, underpinning a market already buoyed by worries over potential US-Iran conflict.
Back home, the yields on new 10 year Government Stock were trading 5 basis points higher at 6.81% from its previous close of 6.76% on Tuesday.
The benchmark five-year interest rates were trading 5 basis points higher at 6.93% from its previous close of 6.88% on Tuesday.