Bond yields traded lower on Wednesday as investors awaited the announcement of the central bank’s open market operation.
In the global market longer-term U.S. Treasury yields were lower on Tuesday as investors tried to judge how quickly vaccines could be distributed to fight the COVID-19 pandemic. Furthermore, oil prices edged lower on concerns over an unexpected jump in U.S. oil inventories last week, but positive news on COVID-19 vaccines lifted investors hopes for a recovery in fuel demand, capping losses.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 5.91% from its previous close of 5.93% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point lower at 5.09% from its previous close of 5.10% on Tuesday.