Bond yields edged lower on Tuesday, as the government data showed that retail inflation for industrial workers rose to 6.49 per cent in September from 5.85 per cent in August 2022 mainly due to higher prices of certain food items.
In the global market, Treasury yields rose on Monday as markets looked ahead to the Federal Reserve’s November meeting beginning Tuesday. Furthermore, oil prices fell on Monday on expectations that U.S. production could rise and as weaker economic data out of China and the country's widening COVID-19 curbs weighed on demand.
Back home, the yields on new 10 year Government Stock were trading 4 basis points lower at 7.40% from its previous close of 7.44% on Monday.
The benchmark five-year interest rates were trading 4 basis points lower at 7.33% from its previous close of 7.37% on Monday.