Bond yields edged higher on Wednesday, as investors preferred to remain on sidelines ahead of key economic data -- July IIP and August CPI, which are scheduled to be released tomorrow.
In the global market, US Treasury yields climbed to four-week peaks on Tuesday, tracking German bonds, as risk appetite continued to improve with diminishing US-China trade tensions and expectations of fiscal stimulus measures from Germany, Europe’s largest economy. Furthermore, oil prices rose after an industry report showed that crude stockpiles in the US fell last week by more than twice the amount that analysts had forecast.
Back home, the yields on new 10 year Government Stock were trading 8 basis points higher at 6.65% from its previous close of 6.57% on Monday.
The benchmark five-year interest rates were trading 8 basis points higher at 6.37% from its previous close of 6.29% on Monday.