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Bond yields trade lower on Monday

31 Dec 2018 Evaluate

Bond yields traded lower on Monday, as traders remained encouraged with the Confederation of Indian Industry’s (CII) statement that the country is expected to witness strong economic growth in 2019, after it has emerged as the fastest growing major world economy this year despite growing global vulnerabilities.

Furthermore, Crude oil prices rose about 2 per cent on the final trading day of the year on Monday, mirroring gains in stock markets, but were on track for the first annual decline in three years amid lingering concerns of a persistent supply glut.

Back home, the yields on new 10 year Government Stock were trading 4 basis points lower at 7.35% from its previous close of 7.39% on Friday.

The benchmark five-year interest rates were trading flat at its previous close at 7.22% on Friday.

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