Bond yields ended lower on Wednesday, even as Rating agency Standard & Poor’s (S&P) in its latest outlook on Asia Pacific has said high-frequency indicators suggest a strong rebound during the July-September quarter after a steep contraction in activity in the previous three months on the back of a severe Covid-19 wave.
In the global market, the benchmark 10-year U.S. Treasury yield rose again on Tuesday, trading at its highest levels since June and continuing a steady increase that began last week. Furthermore, Oil prices fell on Wednesday after U.S. crude inventories unexpectedly rose and amid concerns about a slowing Chinese economy.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 6.20% from its previous close of 6.22% on Tuesday.
The benchmark five-year interest rates were trading 2 basis points lower at 5.65% from its previous close of 5.67% on Tuesday.