Bond yields edged higher on Tuesday despite S&P Global Market Intelligence asserts that weak private consumption in India remains the largest concern, with rural demand in particular still straggling to catch up, at a time when the country's overall growth remains strong.
In the global market, U.S. Treasury yields fell on Monday as investors assessed weak U.S. manufacturing data and looked toward a key jobs report slated for the end of the week. Furthermore, Oil prices fell as much as 3.5% on Monday following OPEC+'s decision to start unwinding some voluntary cuts earlier than anticipated, increasing demand concerns heading into 2025.
Back home, the yields on new 10 year Government Stock were trading 8 basis points higher at 7.02% from its previous close of 6.94% on Monday.
The benchmark five-year interest rates were trading 9 basis points higher at 7.11% from its previous close of 7.02% on Monday.