MUMBAI: Federal bond yields retreated from the day's lows on Tuesday afternoon tracking a rise in global crude oil prices with movement in the euro being watched for further cues. At 2:07 p.m., the 10-year yield was steady at 8.25 percent from its Monday's close. The euro held steady on Tuesday, taking a breather after its slide to a record low versus the Swiss franc the previous day, but is still vulnerable to fears that Europe's debt crisis could worsen. Traders will now focus attention on the EU leaders emergency meeting on Thursday to discuss the second bailout package for Greece. The benchmark five-year Indian swap rate was steady at 7.48 percent, while the one-year rate dropped 2 bps to 7.87 percent. Brent crude and U.S. crude futures extended gains to rise over $1 on Tuesday, pushed higher by weakness in the dollar and on expectations that oil stocks in the U.S. fell for a seventh week. The Nymex Crude oil futures was up 0.66 cents at $96.59 per barrel.

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