Bond yields edged higher on Monday after U.S. data showed employment increased more than expected in July, raising the probability of an interest rate hike from the Federal Reserve this year.
In the global market, US Treasury yields jumped on Friday, with yields on bonds maturing in 10 years and less set to post their biggest daily rise since mid-May, after a stronger-than-expected July employment report boosted expectations for another Federal Reserve interest rate hike this year. Furthermore, Oil prices rose, lifted by reports of renewed talks by some members of the Organization of the Petroleum Exporting Countries to restrain output.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.18% from its previous close of 7.16% on Friday.
The benchmark five year yields were trading 2 basis points higher at 7.09% from its previous close of 7.07% on Friday.