Bond yields traded flat on Wednesday amid lack of fresh triggers, while traders await the central bank’s so-called special open market operation, due tomorrow, for further cues.
In the global market longer-term U.S. Treasury yields were higher on Tuesday as U.S. central bank officials began a two-day meeting and investors looked for progress in congressional spending negotiations in Washington. Furthermore, oil prices dropped on a surprise gain in crude oil inventories in the United States and as investors continued to worry about demand for fuel being squeezed amid tighter lockdowns in Europe to counter the coronavirus pandemic.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 5.94% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point higher at 5.10% from its previous close of 5.09% on Tuesday.