Bond yields trade higher on Wednesday

Bond yields traded higher on Wednesday amid Reserve Bank of India eased some curbs on speculation in the rupee. Under revised directives, authorised dealers or banks can resume offering non-deliverable derivative contracts involving INR to resident or non-resident users, but must comply with certain restrictions on related-party transactions. Also, the $100-million cap in net open position is still effective.

In the global market, the U.S. 10-year Treasury yield went up on Tuesday as investors looked for more clarity on whether the U.S. and Iran would reach a peace agreement.

Back home, the yields on new 10 year Government Stock were trading 02 basis points higher at 6.91% from its previous close of 6.89% on Tuesday.  

The benchmark five-year interest rates were trading 02 basis points higher at 6.59% from its previous close of 6.57% on Tuesday.