Bond yields edged lower on Wednesday, as crude oil prices eased after Saudi Arabia said it will restore lost crude oil production by the end of the month.
In the global market, U.S. Treasury yields fell on Tuesday, ahead of an expected interest rate cut by the Federal Reserve at the conclusion of its two-day policy meeting on Wednesday. Furthermore, Oil prices slipped, extending losses from the previous session after Saudi Arabia’s energy minister said the kingdom will restore lost oil production by the end of the month.
Back home, the yields on new 10 year Government Stock were trading 10 basis points lower at 6.63% from its previous close of 6.73% on Tuesday.
The benchmark five-year interest rates were trading 8 basis points lower at 6.38% from its previous close of 6.46% on Tuesday.