Bond yields traded flat on Tuesday with International Monetary Fund’s First Deputy Managing Director Gita Gopinath stating that the world's top central banks may need longer to get inflation back down to target and a fresh bout of financial turbulence could make the process even more protracted. She also said central banks have raised interest rates at a brisk pace over the past year-and-a-half to fight off a historic surge in prices, but they have persistently underestimated inflationary pressures.
In the global market, treasury yields moved slightly lower on Monday as Wall Street kicked off a light week for economic data and awaited commentary from Federal Reserve speakers. Furthermore, oil prices rose slightly in choppy trading on Monday, as investors balanced concerns about global demand growth against upcoming supply disruptions that could be exacerbated by political instability in Russia.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.06% on Monday.
The benchmark five-year interest rates were trading flat with its previous close of 7.02% on Monday.