Bond yields traded higher on Tuesday as Prime Minister Narendra Modi and US Vice-President JD Vance have welcomed the significant progress in the ongoing trade talks between both countries. India and the US have finalised the terms of reference outlining the roadmap for negotiations of the proposed Bilateral Trade Agreement (BTA).
In the global market, yield on the 10-year U.S. Treasury note rose Monday as investors weighed concerns over tariffs and comments by President Donald Trump criticizing Federal Reserve Chair Jerome Powell. Furthermore, oil prices fell about 1% on Monday after nuclear talks between the United States and Iran progressed, reducing the concerns that the dispute will reduce supply from the major Middle Eastern producer.
Back home, the yields on new 10 year Government Stock were trading 11 basis points higher at 6.43% from its previous close of 6.32% on Monday.
The benchmark five-year interest rates were trading 10 basis points higher at 6.18% from its previous close of 6.08% on Monday.
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