Bond yields traded higher on Monday, as traders remain concerned with a report that merchandise exports rose 3.7% to $26.36 billion in January despite a weak rupee, up from 0.3% in December but lower than 9.1% growth achieved so far this fiscal.
In the global market, US Treasury yields rose slightly on Friday but held in the middle of their recent range as investors digested mixed economic data for signals of Federal Reserve interest rate policy. Furthermore, oil prices rose to their highest levels since November last year, lifted by OPEC-led supply cuts and US sanctions on Iran and Venezuela.
Back home, the yields on new 10 year Government Stock were trading 1 basis point higher at 7.59% from its previous close of 7.58% on Friday.
The benchmark five-year interest rates were trading 8 basis points higher at 7.21% from its previous close of 7.13% on Friday.