Bond yields trade flat on Wednesday

Bond yields traded flat on Wednesday amid fading prospects of another open market purchase of notes in the near term.

In the global market, U.S. long-dated Treasury yields slipped on Tuesday after data showed a decline in U.S. consumer confidence this month, although the outlook on yields remained intact as investors see the Federal Reserve raising interest rates in December. Furthermore, Oil prices fell, pulled down by a report of surging U.S. crude inventories, rising output in Nigeria and squabbling among producers about a planned output cut, which together re-ignited concerns over a global supply glut.

Back home, the yields on new 10 year Government Stock were trading flat at its previous close at 6.87% on Tuesday.

The benchmark five-year interest rates were trading 1 basis point higher at 6.69% from its previous close of 6.68% on Tuesday.