Bond yields edged lower on Monday, as slowing economic growth in October-December cemented hopes of a policy rate cut in the coming months.
In the global market, Money continued to pour into U.S. Treasuries on Friday on coronavirus concerns, sending the yield on the two-year note below 1% for the first time since 2016 and adding to pressure on central bankers to cut interest rates. Furthermore, Oil prices pared losses after earlier hitting multi-year lows as hopes that a bigger than expected production cut from OPEC and stimulus from central banks could offset economic gloom from the coronavirus outbreak.
Back home, the yields on new 10 year Government Stock were trading 2 basis points lower at 6.35% from its previous close of 6.37% on Thursday.
The benchmark five-year interest rates were trading 1 basis point lower at 5.85% from its previous close of 5.86% on Thursday.