Bond yields traded higher on Tuesday as data released by the Reserve Bank of India (RBI) showed overseas Indians deposited around $4 billion in non-resident Indian (NRI) deposit schemes in April - June FY25, up 79 per cent over the amount deposited in these schemes in the same period last year.
In the global market, U.S. Treasury yields were little changed on Monday, with the release of Federal Reserve meeting minutes and the closely watched central bank symposium at Jackson Hole on the agenda this week. Furthermore, oil prices fell by more than $2 a barrel Monday on the prospect of successful Middle Eastern peace talks reducing supply risks, while leading oil importer China's economic weakness threatened to curb demand.
Back home, the yields on new 10 year Government Stock were trading 10 basis points higher at 6.96% from its previous close of 6.86% on Monday.
The benchmark five-year interest rates were trading 11 basis points higher at 6.89% from its previous close of 6.78% on Monday.
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