Bond yields trade lower on Tuesday

Bond yields turned lower after Bonds rose in early trade, reacting to a weaker-than-expected US jobs report that diminished expectations of a near-term rate increase in the world's largest economy.

In the global market, U.S. Treasury yields on longer-dated maturities rose on Friday, with shorter-dated yields flat, after a weaker-than-expected U.S. non-farm payrolls report that suggested the Federal Reserve was unlikely to raise U.S. short-term interest rates this month. Furthermore, Brent crude prices were steady, holding most of their gains from the previous session when top producers Russia and Saudi Arabia agreed to cooperate on stabilising the oil market.

Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 7.09% from its previous close of 7.11% on Friday.

The benchmark five-year interest rates were trading 2 basis points lower at 6.9% from its previous close of 7.01% on Friday.