Bond yields traded marginally lower on Tuesday as elevated crude oil prices and surging US Treasury yields kept investors cautious.
In the global market, U.S. Treasury yields edged higher on Monday as pressure on global government bonds resumed, amid higher oil prices and inflation fears. Furthermore, Oil prices rose for a second successive session on Tuesday as lingering concern over Middle East supply disruption brought about by US-Iran conflict outweighed signs of recovering crude exports from the region.
Back home, the yields on new 10-year Government Stock were trading 1 basis point lower at 7.17% from its previous close of 7.18% on Monday.
The benchmark five-year interest rates were trading 3 basis points lower at 6.85% from its previous close of 6.88% on Monday.
