Bond yields traded flat on Wednesday with a private report that India's consumer inflation likely cooled to an 18-month low in April as rises in food and fuel prices moderated, keeping it below the Reserve Bank of India's upper tolerance limit for the second consecutive month.
In the global market, Treasury yields rose slightly on Tuesday as investors awaited April consumer price inflation data on Wednesday for clues on whether price pressures are continuing to ease. Furthermore, Oil prices ticked up on Tuesday, reversing a more than 2% drop earlier in the session, as markets weighed U.S. government's plans to refill the nation's emergency oil reserve and anticipated higher seasonal demand.
Back home, the yields on new 10-year Government Stock were trading flat with its previous close of 7.04% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point higher at 6.99% from its previous close of 6.98% on Tuesday.