Bond yields edged higher, as Federation of Indian Chambers of Commerce and Industry (FICCI) in its Economic Outlook Survey has projected India’s annual median Gross domestic product (GDP) growth for current financial year (FY21) at (-) 4.5 per cent.
In the global market, Longer-term U.S. Treasury yields rebounded on Friday, following Wall Street higher as optimism about an antiviral drug to treat COVID-19 countered worries about the economic fallout from a record rise in coronavirus cases in the United States. Furthermore, oil slipped in early Asian trade as traders eyed an OPEC technical meeting this week which is expected to recommend an easing in supply cuts that have been propping up crude prices.
Back home, the yields on new 10 year Government Stock were trading 2 basis points higher at 5.78% from its previous close of 5.76% on Friday.
The benchmark five-year interest rates were trading 1 basis point higher at 4.85% from its previous close of 4.84% on Friday.
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