Bond yields traded higher on Wednesday after SBI research report stated that India can add $20 billion to its Gross Domestic Product (GDP) if the country can reduce by 50 per cent the dependence on imports from China by leveraging the production linked incentive schemes.
In the global market, benchmark U.S. 10-year Treasury yields rose on Tuesday after Russia said it was moving some troops away from the Ukrainian border, boosting risk-taking in financial markets. Furthermore, oil pared some losses in Asian trading after an over 3% fall the previous day, as investors weighed an easing Russia-Ukraine tension against overall tight global supplies.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.68% from its previous close of 6.67% on Tuesday.
The benchmark five-year interest rates were trading 3 basis points higher at 5.91% from its previous close of 5.88% on Tuesday.