Bond yields trade lower on Tuesday amid the country's imports have soared by 5 per cent to reach $56.18 billion in June 2024 as compared to $53.51 billion in June 2023. The trade deficit, or the gap between imports and exports, during the month under review stood at $20.98 billion.
In the global market, treasury yields moved higher on Monday as investors bet on higher inflation under a potential reelection of Donald Trump in November. Furthermore, oil prices eased on Monday as worries about demand in top importer China offset supportive U.S. economic news, OPEC+ supply restraint and ongoing Middle East tensions.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 6.97% from its previous close of 6.98% on Monday.
The benchmark five-year interest rates were trading 1 basis point lower at 6.94% from its previous close of 6.95% on Monday.