Bond yields traded flat on Wednesday, as India's services activity expanded at the fastest rate in a year during February, while employment fell further and companies noted the sharpest rise in overall expenses.
In the global market yields, Benchmark U.S. yields dipped on Tuesday for a third straight day after jumping to a one-year high last week, as comments from two Federal Reserve officials failed to spark a move higher while investors look for a pickup in economic data later this week. Furthermore, oil prices were down in early trade, extending several days of losses, amid uncertainty over how much supply producing countries will push to restore to the market at a meeting this week while the coronavirus pandemic persists.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 6.23% on Tuesday.
The benchmark five-year interest rates were trading 3 basis points higher at 5.80% from its previous close of 5.77% on Tuesday.