Bond yields traded lower on Wednesday as geopolitical tensions returned to focus after the ceasefire in the Middle East ended and the US conducted airstrikes on Iran.
In the global market, U.S. Treasury yields fell on Tuesday following the release of a cooler-than-expected inflation report. Furthermore, Oil extended gains on Wednesday as President Donald Trump reimposed a naval blockade on all Iranian ports and Iran’s Islamic Revolutionary Guard Corps threatened to close all other export corridors that benefit the U.S. and its allies.
Back home, the yields on new 10 year Government Stock were trading 02 basis points lower at 6.77% from its previous close of 6.79% on Tuesday.
The benchmark five-year interest rates were trading 3 basis points lower at 6.45% from its previous close of 6.48% on Tuesday.