Bond yields traded flat on Tuesday ahead of a fresh supply of state debt today, while traders eye moves on the U.S. 10-year Treasury yield for further cues.
In the global market U.S. Treasury yields rose on Monday and the yield curve steepened as news of another promising coronavirus vaccine boosted optimism that the economy may be closer to returning to normal, but that was tempered by a likely slow rollout. Furthermore, oil prices edged higher on expectations OPEC and its allies will extend oil production cuts for at least three months, while sentiment was bolstered by news of another promising coronavirus vaccine.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 5.87% on Friday.
The benchmark five-year interest rates were trading 1 basis point lower at 5.09% from its previous close of 5.10% on Friday.