Bond yields traded flat on Tuesday, as investors remained cautious ahead of the U.S. Federal Reserve's monetary policy meeting that starts today.
In the global market, U.S. Treasury prices gained on Monday as stocks tumbled and as investors waited on the conclusion of the Federal Reserve’s two-day meeting on Wednesday, where the U.S. central bank is widely expected to raise rates for the first time this year. Furthermore, Oil prices edged up, lifted by tensions in the Middle East, although rising output in the United States and shaky stock markets put a lid on further gains.
Back home, the yields on new 10 year Government Stock were trading flat at its previous close at 7.61% on Monday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.38% from its previous close of 7.37% on Monday.