Government bond yields edge higher on OMO sales, Fed rate bets

Government bond yields increased on Tuesday following central bank bond sales. Retail inflation reached a twenty-month high, fueling rate hike expectations.

The ten-year benchmark bond yield rose seven basis points to seven point zero seven percent. Global bond yields also hardened, with the ten-year US Treasury moving above five point zero two percent.

Pressure on yields is expected to continue ahead of the US Federal Open Market Committee meeting.