Bond yields edged lower on Wednesday, as Reserve Bank’s data showed India’s services exports rose by 10.4% to $18.24 billion in August in the current financial year. The services exports or receipts were $16.53 billion in the same month of 2018.
In the global market, US Treasury yields rose to a three-week high on Tuesday on a report that British and European Union negotiators were close to a deal for Britain to exit the European Union, spurring an increase in risk taking and reducing demand for safe haven debt. Furthermore, Oil prices rose tracking gains in equities, as investors pinned hopes on a potential BREXIT deal between Britain and the European Union and on signals from OPEC and its allies that further supply curbs could be possible.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 6.65% from its previous close of 6.66% on Tuesday.
The benchmark five-year interest rates were trading 2 basis points lower at 6.32% from its previous close of 6.34% on Tuesday.