Bond yields traded higher on Tuesday, as traders remained on the sidelines with a private report stating that high oil prices are hurting consumers and could also have adverse implications for producers.
In the global market, Yields on US Treasury bonds fell modestly on Monday afternoon after stocks took a nosedive on a report that President Donald Trump was preparing more tariffs on imports from China. Furthermore, Brent oil prices fell, weighed down by ongoing weakness in global stock markets and by signs of rising global supply despite looming sanctions on Iran's crude exports.
Back home, the yields on new 10 year Government Stock were trading 3 basis points higher at 7.84% from its previous close of 7.81% on Monday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.81% from its previous close of 7.79% on Monday.