Bond yields traded higher on Tuesday with Engineering Export Promotion Council (EEPC) chairman Mahesh Desai stating that exports of engineering goods have crossed $9 billion in September 2021, while 22 out of 25 top export destinations such as China, the UK, and UAE have recorded positive growth. It said share of engineering goods in overall merchandise exports stood at 26.65 percent in September.
In the global market, U.S. Treasury yields slipped on Monday in choppy trading, weighed down by market uncertainty about when the Federal Reserve would tighten monetary policy in the face of persistently high inflation. Furthermore, Oil prices edged lower, taking a breather from a sustained rally driven by strong demand in the United States, the world's biggest consumer of oil and its products.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.36% from its previous close of 6.35% on Monday.
The benchmark five-year interest rates were trading 1 basis point higher at 5.85% from its previous close of 5.84% on Monday.