Bond yields edged lower on Monday, as some comfort came with a report that Prime Minister Narendra Modi exuded confidence that the economy has the resilience to bounce back swiftly from the current slowdown and called upon risk-averse companies to take bold investment decisions and help reverse faltering growth.
In the global market, US Treasury yields rose on Friday on relatively strong economic growth and consumer spending reports. Furthermore, Oil prices fell on Monday after an increase in U.S. drilling activity, but held near recent three-month highs on hopes for a trade deal between the United States and China.
Back home, the yields on new 10 year Government Stock were trading 1 basis point lower at 6.59% from its previous close of 6.60% on Friday.
The benchmark five-year interest rates were trading flat at its previous close at 6.42% on Friday.
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