Bond yields traded higher on Monday, tracking a jump in crude oil prices
In the global market, the gap between yields of longer-dated and shorter-dated US Treasury yields narrowed on Friday as data showed wage growth slowed in March even as employers added more workers, evidence that inflation remained tame. Furthermore, oil prices rose to their highest level since November 2018, driven up by OPEC's ongoing supply cuts, US sanctions against Iran and Venezuela and strong US jobs data.
Back home, the yields on new 10 year Government Stock were trading 5 basis points higher at 7.40% from its previous close of 7.35% on Friday.
The benchmark five-year interest rates were trading 8 basis points higher at 7.13% from its previous close of 7.05% on Friday.