Bond yields traded marginally higher on Wednesday amid market participants awaited crucial U.S. and domestic retail inflation data, due later in the day, for further cues on interest rates.
In the global market, U.S. Treasury yields fell as investors awaited inflation data, which could influence the path for Federal Reserve interest rate policy, and remarks from central bank officials. Furthermore, Oil prices barely moved on Wednesday as markets weighed a possible build in U.S. crude stockpiles and economic concerns against planned supply cuts by the world’s biggest oil exporters and hopes for higher global demand.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.10% from its previous close of 7.09% on Tuesday.
The benchmark five-year interest rates were trading 3 basis points higher at 7.10% from its previous close of 7.07% on Tuesday.