Bond yields traded flat on Monday as weaker U.S. wage growth increased possibilities of a delay in Federal Reserve rate hike.
In the global market, the U.S. Treasury yield curve was the steepest in one-and-a-half months on Friday after the jobs report for January showed disappointing wage growth, indicating inflation is not rising at a pace that would lead the Federal Reserve to raise rates in the near-term. Furthermore, oil prices edged up on fears that new U.S. sanctions against Iran could be extended to start affecting crude supplies, but markets were capped by further signs of growing U.S. production.
Back home, the yields on new 10 year Government Stock were trading flat at its previous close at 6.41% on Friday.
The benchmark five-year interest rates were trading 1 basis point higher at 6.56% from its previous close of 6.55% on Friday.