Bond yields traded higher on Tuesday as improved monsoon rains and sustained foreign buying buoyed sentiments. Traders also awaited a large state-debt auction.
In the global market, U.S. Treasury yields were relatively unchanged on Monday as investors looked ahead to the latest FOMC minutes due later in the week and the NATO Summit taking place in Turkey. Furthermore, Oil prices rose on Tuesday as renewed security concerns in the Strait of Hormuz outweighed expectations of stronger global crude supplies following Saudi Arabia’s steep price cuts for Asian buyers and OPEC+’s latest output increase.
Back home, the yields on new 10 year Government Stock were trading 02 basis points higher at 6.70% from its previous close of 6.68% on Monday.
The benchmark five-year interest rates were trading 01 basis point lower at 6.35% from its previous close of 6.36% on Monday.