Bond yields edged lower on Tuesday ahead of the release of some key U.S. economic data as well as a slew of major central bank meetings later this week, including the Bank of Japan, the European Central Bank, the Bank of Canada and the Norges Bank.
In the global market, Treasury yields fell on Monday as investors took advantage of a recent decline in bond prices to buy ahead of economic reports this week that could influence the Federal Reserve and its assessment of U.S. interest rates. Furthermore, oil prices rose on Monday on concerns over global energy supplies following a Ukrainian drone strike on Russia's Novatek (NVTK.MM), fuel terminal and as extreme cold weather continued to hamper U.S. crude production.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 7.17% from its previous close of 7.18% on Friday.
The benchmark five-year interest rates were trading 1 basis point lower at 7.05% from its previous close of 7.06% on Friday.