This research paper looks into how the crude oil prices impact the bond yields issued by the central government of the top ten oil-importing nations before and after the outbreak of Coronavirus and analyze and compare the correlation the bond yields have with crude oil. All the top ten importers are classified into clusters based on their products to identify similarities between them and understand the correlation with oil prices before and after the coronavirus pandemic. The paper has looked into the Central bank's interest rates of these nations to explain the difference in properties that the clusters exhibited during the two periods (I.e., before and after the Coronavirus outbreak of Coronavirus).The control of these policy interest rates plays a vital role in shielding the bond yields from the shocks of oil prices. Nations that we're able to revitalize confidence in investors through their actions by adjusting their interest rates were having a better position than nations that could not change their interest rates.

West Texas Intermediate, Central government bond yields Correlation, COVID-19, Pandemic, Central Bank overnight lending rate.