Bond yields traded higher on Wednesday despite renewed hostilities in West Asia after the United States launched fresh strikes on Iran, a development that had initially raised fears of a wider regional conflict.
In the global market, U.S. Treasury yields declined on Tuesday as market participants prepared for consumer price inflation data set to be released on Wednesday. Furthermore, Oil prices traded largely flat on Wednesday after paring early gains, as fresh U.S.-Iran strikes reignited supply concerns and cast doubt on a fragile ceasefire.
Back home, the yields on new 10 year Government Stock were trading 02 basis points higher at 6.89% from its previous close of 6.87% on Tuesday.
The benchmark five-year interest rates were trading 05 basis points higher at 6.56% from its previous close of 6.51% on Tuesday.