MUMBAI: Indian federal bond yields continued to trade higher in afternoon session on Wednesday tracking their US counterparts and the rise in global crude oil prices.
* At 2:20 p.m, the 10-year benchmark bond yield was at 8.33 per cent, up 3 basis points (bps) from its close on Tuesday, after trading in a 8.31-8.33 per cent range so far.
* The benchmark five-year overnight indexed swap rate was up 6 bps at 6.89 per cent while the one-year rate was 4 bps higher at 7.66 per cent.
* US Treasuries slipped in Asia on Wednesday following news that President Barack Obama will unveil a $300 billion package to create new jobs later in the week.
* In Asian trade, the 10-year benchmark US bond yield was at 2.05 per cent, higher than 1.98 per cent in late US trade on Tuesday.
* Brent crude futures rose more than $1 a barrel on Wednesday, boosted by expectations of lower US crude stockpiles after a storm disrupted production in the Gulf of Mexico.
