Bond yields edged higher on Monday, as the central bank will auction 300 billion rupees of cash management bills later in the day, weighing on demand for dated securities.
In the global market, U.S. benchmark and long-dated Treasury yields fell to nearly seven-month lows, and short-dated yields touched their lowest in more than two weeks on Friday after weaker-than-expected U.S. employment data suggested cautious Federal Reserve policy beyond June. Furthermore, oil markets were subdued, with Brent struggling to maintain $50 per barrel as efforts led by OPEC to tighten the market were undermined by persistently rising U.S. production.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 6.64% from its previous close of 6.63% on Friday.
The benchmark five-year interest rates were trading flat at its previous close at 6.84% on Friday.