Bond yields edged lower on Tuesday as the IMF chief has said a third of the global economy will be in recession this year, and warned that 2023 will be tougher than last year as the US, EU and China will see their economies slow down.
In the global market, oil prices slid on Monday from their highest levels in a month on a stronger dollar and after the head of the International Monetary Fund warned of a tougher 2023 as major economies experience weakening activity.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 7.33% from its previous close of 7.34% on Monday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.25% from its previous close of 7.24% on Monday.