Bond yields traded flat on account of lack of fresh triggers, while investors await the rate-setting panel’s interest rate decision due later this week for further cues.
In the global market Longer-term U.S. Treasury yields rose off near-record lows on Friday, but caution held back shorter-term rates and steepened the yield curve as talks in Washington on a new coronavirus aid bill continued. Furthermore, oil prices fell on concerns about oversupply as OPEC and its allies, together known as OPEC+, are due to pull back from production cuts in August while an increase in COVID-19 cases worldwide raised fears of slower pick-up in fuel demand.
Back home, the yields on new 10 year Government Stock were trading flat with its previous close of 5.83% on Friday.
The benchmark five-year interest rates were trading 1 basis point higher at 4.99% from its previous close of 4.98% on Friday.