Bond yields traded marginally lower on Wednesday as global yields and energy prices remained elevated.
In the global market, the yields on longer-dated U.S. Treasurys rose Tuesday, adding to their rip-roaring moves to multi-year highs due to concerns around inflation and central bank monetary policy. Furthermore, Oil prices rose on Wednesday after US President Donald Trump denied he would be willing to ease sanctions on Iran while Qatar pushed for peace talks, after falling in the previous session on a recovery in crude supply from the Middle East.
Back home, the yields on new 10-year Government Stock were trading 1 basis point lower at 7.14% from its previous close of 7.15% on Tuesday.
The benchmark five-year interest rates were trading 1 basis point lower at 6.84% from its previous close of 6.85% on Tuesday.