Bond yields traded flat on Tuesday amid Reserve Bank of India showed India's services exports in May climbed 7.7% on year to $27.06 billion, while imports rose 2% to $15.5 billion.
In the global market, the 2-year Treasury yield inched up Monday in a shortened trading day, as investors considered the outlook for the U.S. economy and the Federal Reserve’s next monetary policy moves. Furthermore, oil prices settled down 1% on Monday as worries about a slowing global economy and possible U.S. interest-rate hikes outweighed supply cuts announced for August by top exporters Saudi Arabia and Russia.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.11% on Monday.
The benchmark five-year interest rates were trading 1 basis point higher at 7.09% from its previous close of 7.08% on Monday.