Bond yields traded lower on Tuesday as Reserve Bank of India (RBI) in its November monthly bulletin has said that global uncertainty remains elevated, although October witnessed a slight pullback after more than a year of continuous increase.
In the global market, The benchmark 10-year Treasury yield was slightly lower on Monday morning as bond traders kicked off a shortened trading week and awaited more delayed economic data. Furthermore, oil prices climbed on Monday on increased bets of a U.S. interest rate cut in December and mounting doubts about whether Russia will get a peace deal with Ukraine that will boost Moscow's oil exports.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 6.50% from its previous close of 6.52% on Monday.
The benchmark five-year interest rates were trading 3 basis points lower at 6.16% from its previous close of 6.19% on Monday.