Bond yields traded lower on Wednesday as state governments will likely raise a lower-than-expected quantum of funds by selling notes during July-September.
In the global market, U.S. Treasury yields on the longer rose on Tuesday as month-end rebalancing injected a touch of volatility into the market. Furthermore, oil prices rose after an industry report showed crude inventories in the United States fell much more than expected, suggesting demand is improving even as the coronavirus outbreak spreads around the world.
Back home, the yields on new 10 year Government Stock were trading 5 basis points lower at 5.83% from its previous close of 5.88% on Tuesday.
The benchmark five-year interest rates were trading 25 basis points lower at 5.03% from its previous close of 5.28% on Tuesday.