Bond yields traded higher on Wednesday ahead of the central bank’s open market operation and the weekly debt supply tomorrow.
In the global market U.S. Treasury yields fell on Tuesday and the yield curve was flatter as hopes faded for an imminent stimulus deal in Washington, while coronavirus infections surged. Furthermore, oil prices slid more than 1 percent, paring the previous day's gains, as a jump in U.S. crude inventories and surging COVID-19 cases raised fears of an oversupply of oil and weak fuel demand.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 5.85% from its previous close of 5.84% on Tuesday.
The benchmark five-year interest rates were trading 3 basis points higher at 5.17% from its previous close of 5.14% on Tuesday.