Bond yields traded higher on Tuesday as G20 Sherpa Amitabh Kant has said that the country’s economy, which is currently $4 trillion in size, is expected to be close to $30 trillion by 2047 and the country also has the advantage of younger demographics.
In the global market, U.S. Treasury yields moved higher on Monday as China struck back at the U.S. over alleged Geneva trade deal violations. Furthermore, oil prices climbed on Monday despite expectations that OPEC+ will continue to boost production in the coming months.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 6.20% from its previous close of 6.22% on Monday.
The benchmark five-year interest rates were trading 1 basis point higher at 6.85% from its previous close of 6.84% on Monday.