Bond yields traded higher on Tuesday even after the Union government cancelled a second straight weekly debt auction on the back of comfortable cash balances.
In the global market, benchmark U.S. 10-year Treasury yields rose in choppy trading on Monday with investors keeping close tabs on the escalation of the conflict between Ukraine and Russia. Furthermore, oil prices fell as investors took profits from the previous day's rally to seven-year highs and as global stock markets slumped, although losses were capped by fears that Russia might invade Ukraine and disrupt supplies.
Back home, the yields on new 10 year Government Stock were trading 3 basis points higher at 6.69% from its previous close of 6.66% on Monday.
The benchmark five-year interest rates were trading 6 basis points higher at 5.91% from its previous close of 5.85% on Monday.