Bond yields edged lower on Tuesday, as a survey by industry body FICCI revealed sharpest moderation in the confidence level of India Inc since the global financial crisis of 2008-09 as the coronavirus outbreak has adversely affected their businesses.
In the global market, safety-seeking investors drove U.S. Treasury yields slightly lower on Monday, as plunging oil prices led traders to discount inflation risks while Congress struggled to prop up economic activity amid the COVID-19 pandemic. Furthermore, oil prices rebounded, with U.S. crude turning positive after trading below $0 for the first time ever, but gains were capped amid unresolved concerns about how the market can cope with fuel demand decimated by the coronavirus pandemic.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 6.19% from its previous close of 6.20% on Monday.
The benchmark five-year interest rates were trading 3 basis points higher at 5.30% from its previous close of 5.27% on Monday.