Bond yields traded lower on Tuesday, on fresh buying by investors after a sharp drop on global crude oil prices.
In the global market, US Treasury yields increased on Monday with the two-year yield hitting a near decade peak as domestic retail sales recorded growth for a fifth straight month in June, supporting the view of solid economic growth in the second quarter. Furthermore, Brent crude prices rose from a three-month low after more oil workers went on strike in Norway, supporting a market that has been dominated by oversupply issues in recent days.
Back home, the yields on new 10 year Government Stock were trading 6 basis points lower at 7.74% from its previous close of 7.80% on Monday.
The benchmark five-year interest rates were trading flat at its previous close at 7.97% on Monday.