Bond yields traded higher on Wednesday as India’s services sector activity gained traction in the month of October, aided by healthy customer demand domestically and from abroad.
In the global market, Long-dated Treasury yields erased their rise to end lower Tuesday following an auction of 10-year notes that met solid demand as investors awaited the outcome of the U.S. presidential election. Furthermore, Oil prices edged up about 1% on Tuesday with a storm expected to cut U.S. output in the Gulf of Mexico and as the U.S. dollar weakened on Election Day with polls showing America's presidential race exceptionally close.
Back home, the yields on new 10 year Government Stock were trading 11 basis points higher at 6.90% from its previous close of 6.79% on Tuesday.
The benchmark five-year interest rates were trading 12 basis points higher at 6.88% from its previous close of 6.76% on Tuesday.
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