Bond yields edged lower on Tuesday after a senior United Nations (UN) official said that India is projected to overtake China as the world's most populous country by the end of this month when its population is expected to reach 1.425 billion, according to the United Nations. A senior UN official also said that India's population is projected to stabilise after the year 2064 and will be around 1.5 billion at the end of the century.
In the global market, U.S. Treasury yields dipping as investors braced for a week of high-profile quarterly earnings and closely watched economic data. Furthermore, Oil prices were steady on Monday as concern over rising interest rates, the global economy and the outlook for fuel demand were balanced by the prospect of tightening supplies.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 7.10% from its previous close of 7.11% on Monday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.02% from its previous close of 7.00% on Monday.