Bond yields traded lower on Tuesday with market participants remaining on the sidelines due to uncertainty over the US-Iran peace deal and the upcoming monetary policy committee (MPC) review.
In the global market, US Treasury yields ticked higher on Monday as tensions ramped up between the U.S. and Iran, further clouding the prospects for a deal to end the conflict. Furthermore, oil prices fell in Asian trade on Tuesday, retaining a bulk of their gains from the prior session as markets remained uncertain over the status of U.S.-Iran ceasefire talks.
Back home, the yields on new 10 year Government Stock were trading 03 basis points lower at 6.99% from its previous close of 7.02% on Monday.
The benchmark five-year interest rates were trading 02 basis points lower at 6.80% from its previous close of 6.82% on Monday.