Bond yields trade lower on Wednesday

Bond yields traded lower on Wednesday even after Commerce Ministry has said that India has gained duty concessions for its agricultural exports under the newly concluded India-European Union (EU) Free Trade Agreement (FTA) for a wide range of products, including processed foods, tea, coffee, spices, table grapes, sheep and lamb meat.

In the global market, 10-year Treasury yield inched higher on Tuesday as investors awaited further economic data and looked ahead to the Federal Reserve’s interest rate decision. 

Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 6.70% from its previous close of 6.71% on Tuesday.

The benchmark five-year interest rates were trading 1 basis point lower at 6.43% from its previous close of 6.44% on Tuesday.