Bond yields traded higher on Wednesday amid India's trade deficit narrowed to $21.94 billion in December from November's revised $32.84 billion, as exports grew last month while overseas shipments went down on sequenial basis.
In the global market, yield on the 10-year Treasury was flat Tuesday as traders digest a cooler than expected rise in wholesale prices in December, and looked toward the release of consumer price data. Furthermore, Oil prices slipped on Tuesday after a U.S. government agency forecast steady U.S. oil demand in 2025 while lifting its forecast for supply.
Back home, the yields on new 10 year Government Stock were trading 10 basis points higher at 6.92% from its previous close of 6.82% on Tuesday.
The benchmark five-year interest rates were trading 8 basis points higher at 6.87% from its previous close of 6.79% on Tuesday.