Bond yields edged lower on Monday, as traders took note of a report that the finance minister said that the government will not revise its fiscal deficit target immediately after it slashed corporate tax rates.
In the global market, US Treasury yields fell on Friday after a Chinese delegation canceled planned visits to US farms, raising concerns that the United States and China are unlikely to forge a trade deal in the near term. Furthermore, Oil prices rose to their highest in two sessions amid concerns about oil supply disruptions from Saudi Arabia and elevated tensions in Middle East.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 6.77% from its previous close of 6.78% on Friday.
The benchmark five-year interest rates were trading 7 basis points higher at 6.57% from its previous close of 6.50% on Friday.