Bond yields traded marginally lower on Wednesday as traders assessed US midterm election result.
In the global market, U.S. Treasury yields moved higher on Tuesday as voting began in the U.S. midterm elections, while investors parse a busy week of economic data and monitored Middle East tensions. Furthermore, Oil prices rose on Wednesday as investors awaited Washington’s next move in the war with Iran, with Democrats capturing control of U.S. Congress from President Donald Trump’s Republicans in midterm elections.
Back home, the yields on new 10-year Government Stock were trading 3 basis points lower at 7.26% from its previous close of 7.29% on Tuesday.
The benchmark five-year interest rates were trading 5 basis points lower at 7.15% from its previous close of 7.20% on Tuesday.