Bond yields edged lower on Wednesday despite Reserve Bank of India (RBI) said India's current account deficit declined to $10.5 billion or 1.2 per cent of the GDP in October-December quarter of current fiscal from $11.4 billion in the previous three months and $16.8 billion a year back.
In the global market, the 10-year U.S. Treasury yield ticked lower on Tuesday as investors weighed the previous day’s data points and looked ahead to key inflation figures later in the week. Furthermore, Oil prices were little changed on Tuesday as investors took a more mixed view toward the loss of Russian refinery capacity after recent Ukrainian attacks while a slightly weaker U.S. dollar offered some support.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 7.07% from its previous close of 7.08% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point lower at 7.09% from its previous close of 7.10% on Tuesday.