Bond yields traded higher on Tuesday with Reserve Bank Governor Shaktikanta Das’ statement that the RBI will continue to ensure adequate liquidity to support the economy, which is facing many headwinds in the form of soaring crude oil and key commodity prices following the Russian invasion of Ukraine.
In the global market, oil futures extended gains on Tuesday morning on news that some European Union members were considering imposing sanctions on Russian oil and as attacks on Saudi oil facilities sent jitters through the market.
Back home, the yields on new 10 year Government Stock were trading 3 basis points higher at 6.81% from its previous close of 6.78% on Monday.
The benchmark five-year interest rates were trading 5 basis points higher at 6.09% from its previous close of 6.04% on Monday.