Bond yields traded flat on Wednesday, as investors remained on sidelines ahead of consumer price index (CPI) data from India and the U.S. for fresh signals on the rate path.
In the global market, U.S. Treasury prices rose Tuesday after falling in the prior session, with yields declining as news of a potential agreement between the United States and Iran pressured oil prices and prompted short-covering in bonds. Furthermore, Oil prices rose on Wednesday, extending recent gains and coming in sight of a two-week high as the U.S. and Iran remained at odds over reopening in the Strait of Hormuz.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 6.77% on Tuesday.
The benchmark five-year interest rates were trading flat with its previous close of 6.37% on Tuesday.