Bond yields edged higher on Monday, tracking gains in U.S. Treasury yields, after centrist Emmanuel Macron won the first round of French presidential election, qualifying for the May 7 runoff alongside far-right leader Marine Le Pen.
In the global market, U.S. Treasury debt futures prices fell on Sunday after centrist Emmanuel Macron took the first round of voting in the French presidential election. Furthermore, Oil prices recovered some ground following last week's big losses, driven by expectations that OPEC will extend a pledge to cut output to cover all of 2017, although a relentless rise in U.S. drilling capped gains.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 6.94% from its previous close of 6.92% on Friday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.02% from its previous close of 7.00% on Friday.