Bond yields edged higher on Monday, tracking higher crude oil prices, even as traders awaited the release of the government’s borrowing calendar for the first half of next financial year.
In the global market, U.S. Treasury yields rose from six-week lows on Friday in choppy trading as concerns about a global trade war after President Donald Trump announced tariffs on Chinese goods kept investors on edge. Furthermore, oil prices reversed earlier gains as concerns of a looming trade dispute between the United States and China weighed on global markets.
Back home, the yields on new 10 year Government Stock were trading 3 basis points higher at 7.59% from its previous close of 7.56% on Friday.
The benchmark five-year interest rates were trading 2 basis points higher at 7.41% from its previous close of 7.39% on Friday.