Bond yields traded lower on Tuesday, ahead of the outcome of the Federal Reserve’s policy review tomorrow and as investors await fresh supply of state government debt on July 30.
In the global market, US Treasury yields fell broadly on Monday, in line with government bond markets around the world amid global economic uncertainty, as investors await a widely-expected interest rate cut by the Federal Reserve this week. Furthermore, Oil prices extended overnight gains amid widespread expectations the US Federal Reserve will cut interest rates for the first time in more than a decade this week.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 6.39% from its previous close of 6.41% on Monday.
The benchmark five-year interest rates were trading 3 basis points lower at 6.33% from its previous close of 6.36% on Monday.