Bond yields edged lower on Wednesday, despite crude oil prices soared and equities tumbled after Iran targeted US troops in Iraq in response to the killing of a top Iranian commander last week.
In the global market, the US yield curve was steeper on Tuesday in the wake of good economic data, while 10-year Treasury Inflation-Protected Securities real yields moved back above zero and five-year TIPS rose, though remained in negative territory. Furthermore, Oil prices jumped to their highest in months after Iran attacked American forces in Iraq in response to a US strike that killed an Iranian general last week, raising the spectre of a spiralling conflict and disrupted oil supplies
Back home, the yields on new 10 year Government Stock were trading 1 basis points lower at 6.54% from its previous close of 6.55% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point lower at 6.40% from its previous close of 6.41% on Tuesday.