Bond yields traded lower on Tuesday, as investors remained optimistic with a report that rising imports from China have taken a heavy toll on the employment-generation potential of the manufacturing sector, especially among the micro, small and medium enterprises (MSMEs).
In the global market, US Treasury prices weakened slightly Monday, pushing yields marginally higher, as investors awaited a Federal Reserve meeting that’s expected to produce a midweek rate increase and as oil prices jumped to a four-year high. Furthermore, oil markets remained strong, with Brent crude near a four-year high reached the previous session.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 8.11% from its previous close of 8.12% on Monday.
The benchmark five-year interest rates were trading 2 basis points higher at 8.18% from its previous close of 8.16% on Monday.