Bond yields edged lower on Wednesday, tracking a slump in crude oil prices overnight.
In the global market, US Treasury prices rose on Tuesday, driving 10-year yields below 2%, on renewed safe-haven demand due to anxiety about slowing global economic growth and reduced optimism about the restart on US-China trade talks. Furthermore, Oil prices edged higher after a steep fall in the previous session, supported by extended output cuts by OPEC and its allies despite concerns that a slowing global economy could crimp demand.
Back home, the yields on new 10 year Government Stock were trading 3 basis points lower at 6.82% from its previous close of 6.85% on Tuesday.
The benchmark five-year interest rates were trading 2 basis points lower at 6.72% from its previous close of 6.74% on Tuesday.