Bond yields traded higher on Wednesday as provisional data of the commerce ministry showed that the country's exports rose by 23.69 per cent to $34.06 billion in January on healthy performance by engineering, petroleum and gems and jewellery segments even as trade deficit widened to $17.94 billion during the month.
In the global market, the bond market sell-off that has upended financial markets since the start of the year stalled on Tuesday, with benchmark U.S. 10-year Treasury yields hovering near their lowest levels in a week. Furthermore, oil prices rose towards last week's seven-year highs after data showing a fall in U.S. crude stocks underlined solid demand, but investors remained cautious ahead of an OPEC+ meeting due later in the day.
Back home, the yields on new 10 year Government Stock were trading 6 basis points higher at 6.88% from its previous close of 6.82% on Tuesday.
The benchmark five-year interest rates were trading 10 basis points higher at 6.23% from its previous close of 6.13% on Tuesday.