Bond yields traded lower on Tuesday, tracking a continued appreciation in the local currency and as the central bank announced an open market purchase of notes.
In the global market, US Treasury yields fell to six-week lows on Monday as stocks fell, boosting demand for low-risk US government debt. Furthermore, Oil prices were held in check as expectations of an OPEC-led supply cut supported the market but were countered by a deteriorating economic outlook, as well as a surge in US production.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 7.77% from its previous close of 7.79% on Monday.
The benchmark five-year interest rates were trading flat at its previous close at 7.66% on Monday.