Bond yields traded flat on Tuesday after the labour ministry has said retail inflation for agricultural labourers and rural workers rose marginally to 7.08 per cent and 6.92 per cent in October 2023, respectively, from 6.70 per cent and 6.55 per cent respectively in September 2023 due to higher prices of certain food items.
In the global market, Treasury yields mostly edged higher on Monday as the market braces for the sale of $249 billion in U.S. government debt over the next two days as investors seek a slightly higher premium in a week shortened by the Thanksgiving holiday. Furthermore, oil prices rose on Monday amid the prospect of OPEC plus deepening supply cuts to shore up prices after four weeks of decline on demand worries.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 7.25% on Monday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.28% from its previous close of 7.26% on Monday.