Bond yields traded flat on Tuesday as U.S. Treasury yields continue to scale fresh highs, while traders also waited for debt sales in a holiday-truncated week.
In the global market, U.S. Treasury yields scaled fresh 16-year peaks on Monday, keeping the dollar near a 10-month high, as investors responded to the message from the Federal Reserve and other major central banks that rates are likely to stay elevated for longer. Furthermore, Oil prices fell slightly in Asian trade on Tuesday amid growing fears that higher-for-longer U.S. interest rates will weigh on demand, while renewed concerns over China’s economy also dented sentiment.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.15% on Monday.
The benchmark five-year interest rates were trading flat with its previous close of 7.18% on Monday.
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