Bond yields traded higher on Monday, as traders remained concerned with National Green Tribunal chairman Justice Adarsh Kumar Goel stating that India has earned its pride of place in the world with its economy growing ‘very fast’ but a large number of people still live below the poverty line.
In the global market, Benchmark US Treasury yields fell to eight-week lows on Friday and the yield curve flattened as falling stock and oil prices increased safe-haven buying of long-dated US government bonds. Furthermore, Oil prices steadied after plunging nearly 8 percent in the previous session, but remain under pressure with Brent crude below $60 per barrel amid weak fundamentals and struggling financial markets.
Back home, the yields on new 10 year Government Stock were trading 1 basis points higher at 7.72% from its previous close of 7.71% on Thursday.
The benchmark five-year interest rates were trading 4 basis points higher at 7.61% from its previous close of 7.57% on Thursday.
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