Bond yields edged higher on Wednesday, ahead of Monetary Policy Committee’s interest rate decision due February 6, 2020.
In the global market, U.S. Treasury yields rose on Tuesday as investors grew more comfortable with risk, encouraged by steps taken by China in response to the coronavirus. Furthermore, Oil prices rose, reversing out of a 1% slump in the previous session, boosted by producers weighing further output cuts to counter a potential squeeze on global oil demand resulting from China's fast-spreading coronavirus.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.51% from its previous close of 6.50% on Tuesday.
The benchmark five-year interest rates were trading 2 basis points lower at 6.28% from its previous close of 6.30% on Tuesday.