Bond yields traded higher on Tuesday, traders remain concerned with a private report which stated that declining for the fourth consecutive month, consumer confidence in the month of October nosedived by 3.5% tracking pessimism around jobs, economy, finances, and investment.
In the global market, US Treasury yields were higher on Monday ahead of an expected interest rate cut at this week's Federal Reserve policy meeting and as the latest BREXIT developments boosted the British pound and market appetite for risk. Furthermore, Oil prices edged lower in quiet trade as concerns about slower economic growth overshadowed signs of a thawing in the trade war between Washington and Beijing, while investors awaited US inventory data.
Back home, the yields on new 10 year Government Stock were trading 13 basis points higher at 6.80% from its previous close of 6.67% on Friday.
The benchmark five-year interest rates were trading 11 basis point higher at 6.44% from its previous close of 6.33% on Friday.