Bond yields traded lower on Tuesday as the Finance Ministry in its report said global and regional uncertainties and domestic disruptions may keep inflationary pressures elevated in India for the coming months.
In the global market, U.S. Treasury yields climbed on Monday as investors remain concerned that interest rates could remain higher for longer than expected. Furthermore, Oil prices rose on Monday as global supply is tightening with lower exports from Saudi Arabia and Russia, offsetting nagging concerns about global demand growth amid high interest rates.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 7.21% from its previous close of 7.22% on Monday.
The benchmark five-year interest rates were trading flat with its previous close of 7.20% on Monday.