Bond yields edged higher on Wednesday, investors remain concerned with a report that direct tax collections till January 15 stood at Rs 7.3 lakh crore, down 5.2% from the year-ago period.
In the global market, US Treasury prices surged on Tuesday, pushing yields lower as risk appetite dropped, amid worries about the potential fallout from a lethal virus that has broken out in China. Furthermore, Oil prices edged lower, extending the previous session's drops, as investors continue to shrug aside the impact of almost all of Libya's crude production being off-line amid plentiful supplies elsewhere.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.64% from its previous close of 6.63% on Tuesday.
The benchmark five-year interest rates were trading 4 basis points higher at 6.44% from its previous close of 6.40% on Tuesday.