Bond yields edged lower on Wednesday as India's aggressive fiscal consolidation objective for next year is already being doubted, with Fitch Ratings saying it expects the target of 5.1 percent of GDP to be missed by as much as 30 basis points.
In the global market, U.S. Treasury yields fell on Tuesday as questions lingered over the path ahead for interest rate and when cuts may begin. Furthermore, oil prices rose Tuesday as U.S. crude production is expected to plateau this year after setting a record in 2023.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 7.07% from its previous close of 7.09% on Tuesday.
The benchmark five-year interest rates were trading flat with its previous close of 7.01% on Tuesday.