Bond yields edged higher on Tuesday with a private report stating that India’s central bank will probably start slowing the pace of interest-rate increases on Wednesday, signaling it’s near the end of its aggressive tightening cycle.
In the global market, U.S. Treasury yields rose Monday as investors weighed the likelihood that the Federal Reserve will continue hiking rates until a recession hits. Furthermore, Oil prices rose on Monday after OPEC+ nations held their output targets steady ahead of a European Union ban and a price cap kicking in on Russian crude.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.24% from its previous close of 7.22% on Monday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.10% from its previous close of 7.08% on Monday.