Bond yields traded lower on Wednesday ahead of the rate-setting panel’s interest rate decision due later this week.
In the global market, U.S. Treasury yields dropped from four-month peaks after President Donald Trump on Tuesday called off negotiations with Democratic lawmakers on a coronavirus relief stimulus package until after the Nov. 3 election. Furthermore, oil prices slipped after U.S. President Donald Trump dashed hopes for a fourth stimulus package to boost the coronavirus-hit economy and on a larger-than-expected build-up in U.S. crude stocks.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 6.01% from its previous close of 6.02% on Tuesday.
The benchmark five-year interest rates were trading 2 basis points lower at 5.27% from its previous close of 5.29% on Tuesday.