Bond yields traded higher on Wednesday as India's manufacturing sector growth rose to an eight-month high in March, driven by quicker increases in factory orders and production amid buoyant demand conditions.
In the global market, treasury yields fell on Tuesday as investors digested some weak economic data, while also waiting details on U.S. President Donald Trump’s tariff policy. Furthermore, oil prices edged lower on Tuesday as traders braced for reciprocal tariffs that U.S. President Donald Trump is due to announce on Wednesday, which could intensify a global trade war.
Back home, the yields on new 10 year Government Stock were trading 04 basis points higher at 6.60% from its previous close of 6.57% on Friday.
The benchmark five-year interest rates were trading 01 basis point higher at 6.46% from its previous close of 6.45% on Friday.