Bond yields traded higher on Wednesday amid Commerce and Industry Minister Piyush Goyal has said that removal of angel tax for all classes of investors will help attract investments in the segment and further promote the growth of budding entrepreneurs.
In the global market, U.S. Treasury yields were slightly lower on Tuesday as investors considered the outlook for the U.S. economy ahead of key data slated for the week. Furthermore, oil prices fell about 2% to a six-week low on Tuesday on rising expectations of a ceasefire in Gaza and growing concerns about demand in China.
Back home, the yields on new 10 year Government Stock were trading 11 basis points higher at 7.08% from its previous close of 6.97% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.02% from its previous close of 6.92% on Tuesday.