Bond yields edged lower on Tuesday even after rating agency Icra in its a note based on the analysis of 620 listed companies, excluding financial sector entities, has said that India Inc saw a 39 per cent jump in top lines during April-June quarter.
In the global market, The U.S. two-year Treasury yield hit its highest in 15 years on Monday as investors repositioned for an extended period of aggressive interest rate hikes by the Federal Reserve following Chair Jerome Powell's hawkish speech on Friday. Furthermore, oil prices fell after notching their highest gains in more than a month in the previous session, as global inflation worries overshadowed the prospect of possible OPEC+ output cuts.
Back home, the yields on new 10 year Government Stock were trading 6 basis points lower at 7.19% from its previous close of 7.25% on Monday.
The benchmark five-year interest rates were trading 4 basis points lower at 6.99% from its previous close of 7.03% on Monday.