Bond yields traded higher on Tuesday with a report that in what could be a healthy sign of economic recovery, goods and services tax (GST) collections recorded in the month of October are likely to cross Rs 1 lakh crore for the first time this fiscal.
In the global market longer-term U.S. Treasury yields fell on Monday as investors sold stocks amid a fast-rising case count in the COVID-19 pandemic and as stimulus talks in Washington dragged on. Furthermore, oil prices regained a semblance of stability after suffering sharp losses over the previous session and last week, as a resurgence of coronavirus cases globally hit prospects for crude demand while increasing supply also hurt sentiment.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 5.84% from its previous close of 5.83% on Monday.
The benchmark five-year interest rates were trading 1 basis point higher at 5.15% from its previous close of 5.14% on Monday.