Bond yields were edged flat on Wednesday after the GST Council approved changes in tax rates on some goods and services while allowing states to issue an e-way bill for intra-state movement of gold and precious stones.
On the global front, U.S. Treasury yields were mostly flat on Tuesday after a report showed consumer confidence slumped in June on concerns that high inflation will likely weaken economic growth later this year. Furthermore, Oil prices fell after rising in the previous three sessions but losses were limited on the view that global supply tightness will continue as there is limited room for major producers such as Saudi Arabia to boost production.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.46% on Tuesday.
The benchmark five-year interest rates were trading 2 basis points lower at 7.26% from its previous close of 7.28% on Tuesday.