Bond yields traded flat on Tuesday as investors remained cautious ahead of the presentation of the country’s Union Budget, scheduled to be unveiled on February 1.
In the global market, most U.S. Treasuries were steady on Monday before the Federal Reserve meets on Tuesday and Wednesday and ahead of a heavy week of data. Furthermore, Oil prices dipped on Tuesday as rising U.S. drilling activity undermined efforts by OPEC and other producers to cut output in a move to prop up the market.
Back home, the yields on new 10 year Government Stock were trading flat at its previous close at 6.41% on Monday.
The benchmark five-year interest rates were trading 1 basis point higher at 6.55% from its previous close of 6.54% on Monday.