Bond yields traded flat on Wednesday amid India’s services sector activity growth eased further during the month of May but remained comfortably above the neutral mark of 50.0, highlighting a sharp upturn in output. Robust increases in new business intakes continued to underpin output growth across India's service economy.
In the global market, treasury yields closed lower on Tuesday as an arrival of new data raised concerns about the U.S. economy's outlook. Furthermore, Oil prices fell on Tuesday for the fifth straight session ahead of important US inventory data.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.03% 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.