Bond yields edged higher on Monday, after the Organization of the Petroleum Exporting Countries agreed to modest increase in crude oil production.
In the global market, U.S. Treasury yields were little changed on Friday, trading in narrow ranges, as risk appetite improved a bit with shares on Wall Street higher, but worries over a trade conflict with China kept investors cautious. Furthermore, Brent crude oil prices fell by more than 2 percent as traders factored in an expected output increase that was agreed at the headquarters of the Organization of the Petroleum Exporting Countries in Vienna on Friday.
Back home, the yields on new 10 year Government Stock were trading 3 basis points higher at 7.85% from its previous close of 7.82% on Friday.
The benchmark five-year interest rates were trading 3 basis points higher at 7.88% from its previous close of 7.85% on Friday.