Bond yields traded higher on Monday amid lack of fresh triggers. Investors turned cautious amid the expectation of monetary easing by central banks across the globe.
In the global market, US Treasuries market rallied on Friday, with the 30-year yield hitting its lowest since the 1950s, in a worldwide scramble for bonds on expectations of weak global growth and more policy stimulus from major central banks. Furthermore, Crude prices extended gains in Asia on Monday, supported by comments from the Saudi energy minister saying the oil market is heading towards balance.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.42% from its previous close at 7.41% on Friday.
The benchmark five-year interest rates were trading flat from its previous close at 7.35% on Friday.
The Reserve Bank of India has announced the auction of 91-days and 364-days Government of India Treasury Bills for notified amount of Rs 9,000 crore and Rs 6,000 crore respectively. The auction will be conducted on July 05, 2016 using 'Multiple Price Auction' method.
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