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Bond yields trade lower on Tuesday

24 Nov 2020 Evaluate

Bond yields traded lower on Tuesday after New Delhi announced the issuance of a new 10-year paper.

In the global market U.S. Treasury yields moved higher on Monday and the yield curve steepened on positive COVID-19 vaccine news and a report that former Federal Reserve Chairwoman Janet Yellen is President-elect Joe Biden's pick for Treasury secretary. Furthermore, oil prices held gains as news of a third promising vaccine candidate spurred hopes of a quick recovery in oil demand, while U.S. President-elect Joe Biden received the go-ahead to begin his presidential transition.

Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 5.88% from its previous close of 5.90% on Monday.

The benchmark five-year interest rates were trading 2 basis points lower at 5.05% from its previous close of 5.07% on Monday.