Bond yields traded marginally lower on Wednesday even after negotiating teams of India and the European Union (EU) are making good progress on tariff-related issues and an EU delegation will visit India next week to further iron out differences for an early conclusion of the proposed free trade agreement (FTA).
In the global market, the 10-year Treasury yield slid on Tuesday as investors looked ahead to the Federal Reserve’s interest rate decision. Furthermore, oil prices slipped on Tuesday, marking a third straight day of declines as investors considered the impact of U.S. sanctions against Russia's two biggest oil companies on global supply, along with a potential OPEC+ plan to raise output.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 6.52% from its previous close of 6.53% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point lower at 6.16% from its previous close of 6.17% on Tuesday.
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