Bond yields traded higher on Tuesday as Commerce and Industry Minister Piyush Goyal has said that the free trade agreement (FTA) between India and the four-nation European bloc EFTA is likely to come into force from September. The two sides signed the Trade and Economic Partnership Agreement (TEPA) on March 10, 2024.
In the global market, Treasury yields slipped Monday as investors awaited news from trade talks between Washington and Beijing in London. Furthermore, oil prices edged higher on Monday, buoyed by a weaker U.S. dollar, while investors awaited news from U.S.-China trade talks in London in hopes a deal could boost the global economic outlook and subsequently fuel demand.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 6.29% from its previous close of 6.27% on Monday.
The benchmark five-year interest rates were trading 7 basis point higher at 5.94% from its previous close of 5.87% on Monday.
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