Bond yields traded higher on Tuesday, as country's exports rose 18.8 per cent to $20.01 billion during the three week period of this month (November 1-21), due to healthy growth in sectors such as petroleum products, engineering goods, chemicals and gems and jewellery.
In the global market, U.S. Treasury yields rose on Monday after President Joe Biden announced he would nominate Fed Chairman Jerome Powell to a second term while elevating Fed Governor Lael Brainard to vice chair. Furthermore, oil prices dropped, reversing gains in the previous session, on growing talk the United States, Japan and India will release crude reserves to tame prices despite the threat of demand faltering as COVID-19 cases flare up in Europe.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.36% from its previous close of 6.35% on Monday.
The benchmark five-year interest rates were trading 3 basis points lower at 5.76% from its previous close of 5.79% on Monday.