India, Nov. 10 -- Following the lackluster performance seen in the previous session, treasuries showed a substantial move to the downside during trading on Tuesday.
Bond prices moved sharply lower in morning trading and remained firmly negative throughout the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, surged 11.9 basis points to 4.983 percent.
The ten-year yield moved higher for the third consecutive session after slumping to a nearly two-month low last Thursday, briefly jumping back above 5 percent in intraday trading.
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