Bond yields traded flat on Monday, despite Reserve Bank of India reported the country’s foreign exchange reserves increased by $2.599 billion in the week to March 1 to reclaim the $400 billion-mark.
In the global market, Treasury yields fell on Friday after US job growth dropped unexpectedly in February, with the economy creating only 20,000 jobs, a 93 percent decline from the prior month, amid a contraction of payrolls in construction, among other sectors. Furthermore, Oil prices rose, lifted by Saudi oil minister Khalid al-Falih saying an end to OPEC-led supply cuts was unlikely before June and a report of falling US drilling activity.
Back home, the yields on new 10 year Government Stock were trading flat at its previous close of 7.53% on Friday.
The benchmark five-year interest rates were trading flat at its previous close of 7.03% on Friday.