Bond yields traded flat on Tuesday, following a rise in U.S. Treasury yields, as upbeat U.S. manufacturing data boosted expectations the Federal Reserve would raise rates again this year.
In the global market, U.S. Treasury yields rose on Monday, with two-year yields touching their highest in more than eight years after U.S. manufacturing data boosted expectations that the Federal Reserve would raise interest rates again this year as other central banks shift toward tighter monetary policy. Furthermore, Oil prices retreated in early Asian trade, halting a run of eight straight days of gains on signs that a relentless rise in U.S. crude production was running out of steam.
Back home, the yields on new 10 year Government Stock were trading flat at its previous close at 6.56% on Monday.
The benchmark five-year interest rates were trading flat at its previous close at 6.78% on Monday.