Bond yields traded flat on Wednesday amid the UN's latest report showing that prospects for a robust global economic recovery remain dim as the lingering effects of the COVID-19 pandemic carry on. The report found that risks of a prolonged period of low growth stand, amid stubborn inflation, rising interest rates, and heightened uncertainties, in addition to the ever- worsening impact of climate change.
In the global market, Treasury yields rose on Tuesday, with the 30-year rate finishing at its highest since March, as a rebound in U.S. retail sales reinforced the higher-for-longer theme on interest rates. Furthermore, Oil futures dipped on Tuesday as weaker-than-expected economic data in China and the United States offset a forecast of higher global demand from the International Energy Agency (IEA).
Back home, the yields on new 10-year Government Stock were trading flat with its previous close of 6.96% on Tuesday.
The benchmark five-year interest rates were trading flat with its previous close of 6.96% on Tuesday.