Bond yields traded lower on Tuesday as the International Monetary Fund's official warned that fragmentation in the global economy and clear shifts in underlying bilateral trade could trigger a new Cold War given the conflict in Ukraine and U.S.-China tensions.
In the global market, U.S. Treasury yields were fractionally higher on Monday, as investors look ahead to this week’s Federal Reserve policy meeting. Furthermore, Oil prices were steady on Monday as worries persisted around crude oversupply despite OPEC+ cuts and softer fuel demand growth next year.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 7.27% from its previous close of 7.28% on Monday.
The benchmark five-year interest rates were trading flat with its previous close of 7.24% on Monday.