Bond yields edged lower on Monday, tracking a sharp fall in crude oil prices and lower U.S. Treasury yields.
In the global market, U.S. Treasury yields fell to their lowest level in three weeks on Friday as concerns about Italy’s new government and a leadership challenge in Spain boosted demand for low-risk debt. Furthermore, oil prices fell, extending a steep decline in the previous session, as the market eyed an increase in output from the world's three top crude producers, Russia, the United States and Saudi Arabia.
Back home, the yields on new 10 year Government Stock were trading 4 basis points lower at 7.75% from its previous close of 7.79% on Friday.
The benchmark five-year interest rates were trading 2 basis points lower at 7.77% from its previous close of 7.79% on Friday.