Bond yields traded marginally lower on Wednesday as traders remained on sidelines ahead of the U.S. Federal Reserve's interest-rate decision under Chairman Kevin Warsh later in the day and Friday's signing of the U.S.-Iran interim peace agreement.
In the global market, U.S. Treasury yields fell on Tuesday as the Federal Reserve’s two-day policy meeting kicked off, and expectations for inflation and interest rate hikes continued to ease. Furthermore, Oil prices fell on Wednesday, as investors assessed the U.S.-Iran peace deal, though uncertainty over the full resumption of shipping through the Strait of Hormuz limited further falls.
Back home, the yields on new 10 year Government Stock were trading 01 basis point lower at 6.85% from its previous close of 6.86% on Tuesday.
The benchmark five-year interest rates were trading flat with its previous close of 6.46% on Monday.