Bond yields traded higher on Tuesday as services sector continued to expand in September, though at a slower rate, as the purchasing managers’ index (PMI) fell to 55.2 from 56.7 in August. Strong domestic demand, along with international orders helped the sector as Covid-19 restrictions eased.
In the global market, U.S. Treasury yields rose on Monday, spiking sharply on the shortest end of the yield curve as Washington wrangled over the debt ceiling.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 6.26% from its previous close of 6.24% on Monday.
The benchmark five-year interest rates were trading 1 basis point higher at 5.79% from its previous close of 5.78% on Monday.