Bond yields edged lower on Monday as Indian manufacturing activity plummets to 27.4 in April amid COVID-19 lockdown.
In the global market, U.S. Treasury yields moved a little higher on Friday as the market looked ahead to next week's projection for U.S. borrowing in the second quarter to finance enormous stimulus efforts aimed at combating the economic fallout of the coronavirus outbreak. Furthermore, oil prices fell in early trade, paring last week's gains, on worries the global oil glut may persist as U.S.-China trade tension could hold back an economic recovery even as coronavirus pandemic lockdowns start to ease.
Back home, the yields on new 10 year Government Stock were trading 5 basis points lower at 6.06% from its previous close of 6.11% on Thursday.
The benchmark five-year interest rates were trading 53 basis points higher at 5.68% from its previous close of 5.15% on Thursday.