Bond yields traded higher on Wednesday as focus shifted to the Federal Reserve's interest-rate decision later in the day.
In the global market, U.S. Treasury yields continued to retreat on Tuesday as traders await this week’s Federal Reserve interest rate decision. Furthermore, Oil prices were up on Wednesday after joint strikes in Iraq by the United States and Saudi Arabia, and the interception of Iran’s ballistic missiles aimed at U.S. forces in the Middle East, while U.S. crude inventories shrank.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.78% from its previous close of 6.77% on Tuesday.
The benchmark five-year interest rates were trading 2 basis points higher at 6.43% from its previous close of 6.41% on Tuesday.