Bond yields traded higher on Tuesday as Commerce and Industry Minister Piyush Goyal said that India and the UK resumed their negotiations for the proposed free trade agreement (FTA), which is expected to double or even triple bilateral trade from the current $20 billion in the next 10 years.
In the global market, U.S. Treasury yields ticked down on Monday as investors looked to a busy week ahead, with a flurry of economic data due including a key inflation reading and insights on housing. Oil prices steadied on Monday as investors awaited clarity on talks to end the war in Ukraine and weighed up the prospect of a resumption in crude exports from northern Iraq.
Back home, the yields on new 10 year Government Stock were trading 11 basis points higher at 6.81% from its previous close of 6.70% on Monday.
The benchmark five-year interest rates were trading 8 basis points higher at 6.72% from its previous close of 6.64% on Monday.
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