Bond yields traded higher on Tuesday as investors awaited a widely expected interest rate cut from the central bank later this week.
In the global market, U.S. Treasury yields were mixed on Monday as investors weighed U.S. President Donald Trump’s new tariffs on goods from key trade partners and their effect on the economy. Furthermore, crude prices fell by nearly 2 percent on Tuesday as US tariffs on China took effect, though President Donald Trump paused for a month a decision on steep levies on neighbors Canada and Mexico.
Back home, the yields on new 10 year Government Stock were trading 11 basis points higher at 6.78% from its previous close of 6.67% on Monday.
The benchmark five-year interest rates were trading 10 basis points higher at 6.70% from its previous close of 6.60% on Monday.