Bond yields traded lower on Monday, as comments from the federal finance minister ruled out speculations that the government is reconsidering its plan to issue foreign currency sovereign bonds.
In the global market, US Treasuries were steady on Friday, after yields briefly rose on data showing that US economic growth slowed less than expected in the second quarter. Furthermore, Oil prices fell after Iran described emergency talks on a multi-party nuclear agreement with a group of signatories as ‘constructive’, suggesting an easing of tensions in the Middle East.
Back home, the yields on new 10 year Government Stock were trading 9 basis points lower at 6.44% from its previous close of 6.53% on Friday.
The benchmark five-year interest rates were trading 8 basis points lower at 6.38% from its previous close of 6.46% on Friday.