Bond yields traded higher on Tuesday as government is working on measures to boost India's exports, including targeting 50 countries in regions such as the Middle East and Africa, amid the heavy tariffs imposed by the US on Indian goods. These 50 countries account for about 90 per cent of India's exports.
In the global market, U.S. Treasury yields inched lower Monday as investors look ahead to key inflation data due this week which will offer fresh insights about the state of the U.S. economy. Furthermore, oil prices steadied on Monday after falling more than 4% last week, as investors awaited the upcoming talks between the United States and Russia later this week regarding the war in Ukraine.
Back home, the yields on new 10 year Government Stock were trading 5 basis point higher at 6.47% from its previous close of 6.42% on Monday.
The benchmark five-year interest rates were trading 8 basis points higher at 6.28% from its previous close of 6.20% on Monday.