Bond yields traded higher on Monday, on account of lower demand from corporates and banks. Traders also awaited for further cues on interest rates.
In the global market, US Treasury yields slid on Friday, in line with declines in US equities, weighed down by worries about global growth after poor economic numbers out of Europe and China. Furthermore, Oil prices climbed after US drilling activity fell to its lowest level in about two months, but increasing concerns about weaker growth in major economies kept a lid on gains.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 7.46% from its previous close of 7.44% on Friday.
The benchmark five-year interest rates were trading 3 basis points higher at 7.38% from its previous close of 7.35% on Friday.