Bond yields edged higher on Wednesday amid State Bank of India (SBI) projected a GDP growth of 4.6% for the December quarter, citing that as many as 30 high frequency indicators are not as robust as they were in the previous quarters.
In the global market, U.S. Treasury yields on Tuesday reached levels not seen in three months as traders continued to fret over the prospects of higher Federal Reserve rates. Furthermore, Oil prices fell on Tuesday as investors booked profits on the day's gains as continuing worries over the state of the world economy trumped supply restraints.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.41% from its previous close of 7.39% on Tuesday.
The benchmark five-year interest rates were trading 6 basis points higher at 7.41% from its previous close of 7.35% on Tuesday.