Bond yields traded higher on Tuesday after Finance Minister Nirmala Sitharaman has called for more affordable borrowing costs to support industrial growth and capacity building, while addressing concerns about inflation and the overall economic outlook.
In the global market, Treasury yields were flat on Monday as investors looked ahead to fresh data and central bank commentary after closing out a week when market yields moved higher. Furthermore, Oil prices climbed more than $2 a barrel on Monday after news that crude production at Norway's Johan Sverdrup oilfield had been halted, which added to earlier gains stemming from escalation of the Russia-Ukraine war.
Back home, the yields on new 10 year Government Stock were trading 10 basis points higher at 6.92% from its previous close of 6.82% on Monday.
The benchmark five-year interest rates were trading 11 basis points higher at 6.90% from its previous close of 6.79% on Monday.