Bond yields traded flat on Tuesday, as S&P Global Ratings has said that India’s Gross Domestic Product (GDP) is likely to contract by 9 percent in the current financial year (FY21).
In the global market, U.S. Federal Reserve will put its new approach to monetary policy into practice. Furthermore, oil prices inched lower as a bleaker outlook for global fuel demand prompted fresh selling, but short-covering ahead of a meeting later this week of OPEC and its allies, known as OPEC+, limited losses.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 6.03% on Monday.
The benchmark five-year interest rates were trading 4 basis points lower at 5.42% from its previous close of 5.46% on Monday.