Bond yields edged lower on Wednesday, as World Bank reported that in an era of slowing trade and growth, developing countries can achieve better outcomes for its people through reforms to boost their participation in global value chains.
In the global market, the US Treasury yield curve steepened on Tuesday, driven by a falling two-year yield after Federal Reserve Chair Jerome Powell flagged openness to further rate cuts and said the Fed would expand its balance sheet to ensure money markets function smoothly. Furthermore, Oil prices slipped for a third consecutive session as the prospect of the United States and China striking a trade deal in talks this week dimmed, raising uncertainties for global economic growth and oil demand.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 6.66% from its previous close of 6.67% on Monday.
The benchmark five-year interest rates were trading 4 basis points lower at 6.33% from its previous close of 6.37% on Monday.