Bond yields traded flat on Tuesday, on bets that state-run banks will continue purchases after massive buying yesterday amid rising yields.
In the global market, traders pushed U.S. Treasury yields higher on Monday as they anticipated new government securities being issued to pay for massive stimulus efforts to prop up the economy amid the COVID-19 pandemic. Furthermore, oil futures rose, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June to help drain the glut in the global market that has grown as the coronavirus pandemic crushed fuel demand.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 6.16% on Monday.
The benchmark five-year interest rates were trading 5 basis points higher at 5.65% from its previous close of 5.60% on Monday.