Bond yields traded flat on Wednesday after US India Business Council stated that regular engagement between India and the United States under the bilateral Trade Policy Forum mechanism will help remove barriers to trade, facilitate higher levels of investment and increase two-way trade in goods and services.
In the global market, U.S. Treasury yields edged higher in choppy trading in a holiday-shortened week on Tuesday as investors prepared for the Federal Reserve to become more aggressive in fighting inflation after President Joe Biden nominated Chair Jerome Powell for a second term. Furthermore, oil prices fell as the U.S.-led coordinated release of stocks from strategic reserves eased concerns over tightness in global supply, while investors took profits from the previous day's rally ahead of the U.S. Thanksgiving holiday.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 6.36% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point higher at 5.77% from its previous close of 5.76% on Tuesday.
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